FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


CIT Northbridge Credit Provides $35MM Revolving Line of Credit to Network Wireless Solutions

June 19, 2024, 07:46 AM
Filed Under: Telecom

First Citizens Bank announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, provided a $35 million revolving line of credit to Network Wireless Solutions, a provider of cable solutions and distributor of hardware infrastructure products.
"This financing supports our business operations as we continue to execute on our strategic vision," said Bill Elkin, chief operating officer and chief financial officer at NWS. "In choosing a financing partner, certainty of close and speed of execution were major deciding factors and CIT Northbridge Credit delivered on both."

Established in 2012 and headquartered in Greensboro, North Carolina, NWS provides a wide range of mission-critical telecom solutions to service providers, integrators, contractors and other organizations in broadband and wireless markets. The company operates a network of warehouses across the U.S. and Canada.

"NWS stands out in the rapidly evolving wire and cable manufacturing industry for their innovative and custom-designed solutions for their clients," said Neal Legan, who leads the team that advises CIT Northbridge Credit. "We're pleased to provide this financing to NWS, a company that is poised to benefit from future industry advancements."

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 First Citizens Institutional 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.

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.