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CIT Northbridge Credit Arranges $40MM Credit Facility for Europa Sports Products

July 16, 2020, 08:50 AM
Filed Under: Consumer Products

CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $40 million senior secured credit facility for Europa Sports Products LLC.

Europa Sports Products is an industry-leading distributor of nutritional and sports supplements, sports drinks and accessories to mass market retailers, gyms, health food stores, specialty supplement retailers, sporting goods stores and many other outlets. Proceeds from the credit facility will be used for general corporate purposes and business development.

“With consumers increasingly focused on maintaining and improving their health, we anticipate growing demand for products that support their goals,” said Jeff Compton, co-founder and CEO of Europa Sports Products. “We greatly appreciated the expertise and agility of the CIT Northbridge team in arranging this financing to meet our business objectives.”

“Europa Sports Products is unmatched as a distributor of nutritional and sports supplements and a wide range of other products to outlets across the U.S. and abroad,” said Neal Legan, who leads CIT Northbridge. "We are pleased to work with the company to arrange this asset-based financing that meets their needs and supports their business strategy."

CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by CIT Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender.

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