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CIT is Joint Lead Arranger in $65MM Financing for Blue Wolf ’s NHHC Acquisition

May 20, 2016, 07:44 AM
Filed Under: Healthcare

CIT Group Inc. announced that CIT Healthcare Finance served as joint lead arranger and syndication agent for a $65 million senior secured credit facility to Blue Wolf Capital Partners, a private equity firm that specializes in responsibly transforming companies by managing challenging situations and complex relationships to align stakeholder interests and generate superior returns. The financing supported Blue Wolf’s acquisition of National Home Health Care Corp. (NHHC), a home health provider that offers a range of personal care and skilled nursing services. Financing was provided by CIT Bank, N.A., the principal bank subsidiary of CIT. Terms of the transaction were not disclosed.

Adam Blumenthal, Managing Partner, Blue Wolf Capital Partners, said, “National Home Health Care is an important addition to our investment portfolio. NHHC’s focus on home healthcare for surgical recovery, rehabilitative therapy, behavioral health and the effects of aging is aligned with the trends in today’s healthcare market and presents significant future growth opportunities. We are pleased to partner with CIT to help consummate this transaction.”

Steven Fialkow, Chief Executive Officer, National Home Health Care, said, “We are excited to partner with Blue Wolf as we grow our home health platform and continue to deliver excellent care to our clients.”

William Douglass, Group Head and Managing Director, CIT Healthcare Finance, said, “We’re pleased to leverage our expertise in healthcare financing to support Blue Wolf’s acquisition of National Home Health Care. With the ongoing shift of long-term care away from institutional-based settings toward home-based personal care services, the home healthcare market presents significant opportunities for growth.”

Will Duke, Managing Director, CIT Healthcare Finance, said, “We are excited to partner with Blue Wolf on this transaction and look forward to supporting National Home Health Care as it pursues its strategic growth objectives.”

Blue Wolf Capital is a private equity firm that specializes in control investments in middle-market companies based in the United States and Canada. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively.

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