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Citizens Bank Provides $60MM Credit Facility to Total Safety

May 04, 2017, 07:10 AM
Filed Under: Specialty Industries

Citizens Bank announced that Citizens Commercial Banking is providing a $60 million asset-based revolver to Total Safety, Inc., a global provider of integrated safety solutions for the energy and petrochemical industries. Citizens supported Littlejohn & Co.’s acquisition of a majority interest in Total Safety. Citizens is the sole lead bank and administrative agent.

“We appreciate the expertise of the team at Citizens,” said Clinton Roeder, chief financial officer of Total Safety, Inc.  “They were able to execute this transaction very quickly and seamlessly.  We look forward to having Citizens as a long-term strategic and financial partner.” 

“Total Safety is a great new client and we’re pleased to be able to help the management team and the sponsor, Littlejohn & Co., achieve their strategic and financial goals,” said Chris Carmosino, president of business capital at Citizens Bank. “Providing asset-based revolvers is just one of the ways that Citizens delivers value for clients at every stage of their business life cycle.”

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