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Fifth Third Business Capital Canada Provides $17MM for CLT Logistics

September 20, 2019, 08:39 AM
Filed Under: Logistics

Fifth Third Business Capital Canada Inc., a subsidiary of Fifth Third Bank, announced it acted as sole lender and administrative agent on the funding of a $7,000,000 senior credit facility to Scarborough, Ontario, Canada-based CLT Logistics, Inc. Founded in 1985, CLT is a privately-owned enterprise, specializing in sales, logistics, manufacturing and alternative buying of consumer package goods in the health & beauty and household categories globally. The credit facility will be used to fund CLT’s capital expansion and working capital needs going forward.

“CLT is the latest company to come to Fifth Third to help them fund their ambitious growth plans,” said Dan Flaro, senior vice president and managing director for Fifth Third Business Capital Canada.

“We’re pleased to welcome CLT as a client as we continue to expand our traditional asset-based lending service offering into the Canadian market,” said Mike Sharkey, president of Fifth Third Business Capital.

“We decided to partner with the ABL team at Fifth Third due primarily to the expertise, experience and reputation of the group,” said Jack Wilkinson, president of CLT.

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