{"id":654236,"date":"2013-04-24T14:43:51","date_gmt":"2013-04-24T18:43:51","guid":{"rendered":"http:\/\/www.pehub.com\/?p=198212"},"modified":"2013-04-24T14:43:51","modified_gmt":"2013-04-24T18:43:51","slug":"cit-arranges-220-mln-loan-for-trusthouse-buy","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/654236","title":{"rendered":"CIT Arranges $220 Mln Loan for TrustHouse Buy"},"content":{"rendered":"

CIT Group <\/strong>said Wednesday that it arranged a $220 million loan to help finance Elior SCA<\/strong> and Charterhouse Capital Partners<\/strong>‘ buy of TrustHouse Services Group<\/strong>. Charlotte, N.C.-based TrustHouse provides contract food services to the healthcare, education and corrections sectors.<\/p>\n

PRESS RELEASE<\/p>\n

CIT Group Inc.\u00a0(NYSE: CIT) cit.com, a leading provider of financing and advisory services to small businesses and middle market companies, today announced that it arranged a $220 million senior secured credit facility to help finance the acquisition of TrustHouse Services Group by Elior SCA and Charterhouse Capital Partners. TrustHouse Services is a national U.S. provider of contract food services to the Healthcare, Education and Corrections sectors. Based in Paris, France, Elior is a premier global provider of con! tract food services and food concessions. Charterhouse Capital Partners is a leading UK- based private equity firm.
\nCIT Corporate Finance served as Sole Lead Arranger and Administrative Agent for the transaction. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT.\u00a0 Terms of the transaction were not disclosed.
\n\u201cThis transaction demonstrates the commitment CIT has to providing comprehensive financial solutions to private equity firms as they complete acquisitions,\u201d said Eric Toizer, Managing Director of CIT Sponsor Finance. \u201cWe are pleased to continue our relationship with Mike Bailey and his world class management team.\u201d
\nMike Bailey, CEO at TrustHouse Services, said, \u201cOur long term relationship with CIT facilitated the smooth and efficient closing of this transaction.\u00a0 CIT was able to arrange flexible financing that will allow us to partner with Elior, as it expands into the U.S. market.\u201d
\nGilles Cojan, Director at Elior, said, “TrustHouse provides a compelling value proposition and is well positioned to capitalize on market fragmentation. With its national scale, tailored solutions and first class customer service, we believe this acquisition will allow us to build market share and expand our global footprint in the food services sector.\u201d
\nJamie Arnell, Partner of Charterhouse, said, “We are pleased to continue our growth strategy for Elior as it partners with TrustHouse to create a world-class food services business. We selected CIT to lead the financing of this transaction because of their relationship with TrustHouse Services and their expertise in underwriting and syndicating senior loans in the U.S. market.”
\nEDITOR\u2019S NOTE:
\nWatch the CIT corporate overview video (cit.com\/corporatevideo) that showcases its support of the small business, middle market and transportation sectors.<\/p>\n

Follow us on Twitter: @citgroup, on LinkedIn: LinkedIn.com\/company\/cit, on YouTube: YouTube.com\/citgroupvideo, and on Facebook: facebook.com\/citgroup. Individuals interested in receiv! ing corporate news releases can register at cit.com\/newsalerts or subscribe to the RSS feed at cit.com\/rss.
\nAbout TrustHouse Services
\nTrustHouse Services Group is a leader in the Healthcare, Education, and Corrections-focused food services space and manages over 675 client accounts across more than 45 states. TrustHouse is headquartered in Charlotte, NC, and was founded by Michael J. Bailey. trusthouseservices.com
\nAbout Elior SCA
\nFounded in 1991, Elior is a market leading catering and facilities management group with operations throughout Western Europe, USA, Mexico and Latin America. Elior is the #4 contract caterer and the #3 concession caterer globally, with \u20ac4.48 billion revenue and \u20ac359 million EBITDA for its fiscal year ended 30 September 2012. Elior provides personalized catering and service solutions within the Education, Business & Industry and Healthcare & Seniors sectors as well in Leisure, Culture and Travel, as well as cleaning services and facilities management. Elior is owned\u00a0 by Charterhouse Capital Partners and operates over 14,350 restaurants and outlets around the world, serving 3 million customers daily in 14 countries. elior.com
\nCharterhouse Capital Partners
\nCharterhouse is a leading private equity investment firm focused on leveraged buyouts of established and substantial businesses. Charterhouse focuses on a variety of industrial and commercial sectors. With over 135 transactions, worth in excess of \u20ac50bn in transaction value, and with 86% of those investments realized, the firm\u2019s track record and experience combine to make them one of the most successful private equity firms in Europe. charterhouse.co.uk
\nAbout CIT Corporate Finance
\nCIT Corporate Finance provides lending, leasing and other financial and advisory services to the small business and middle market sectors, with a focus on specific industries, including: Chemicals, Commercial Real Estate, Communications, Energy, Entertainment, Gaming, Healthcare, Industrials, Information Services & Technology, Restaurants, Retail, and Sports & Media.
\ncit.com\/CorporateFinance
\nAbout CIT Bank
\nFounded in 2000, CIT Bank (Member FDIC) is the U.S. commercial bank subsidiary of CIT Group Inc.\u00a0(NYSE: CIT). It provides lending and leasing to the small business, middle market and rail sectors. Through its online bank, BankOnCIT.com, CIT Bank offers a suite of savings options designed to help customers achieve a range of financial goals. It is regulated by the Federal Deposit Insurance Corporation and the Utah Department of Financial Institutions. As of March 31, 2013, it had $10.6 billion of deposits and $13.3 billion of assets. CIT Bank makes loans without regard t! o race, color, religion, national origin, sex, handicap, or familial status. cit.com\/CITBank<\/p>\n

About CIT
\nFounded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $35 billion in financing and leasing assets. A member of the Fortune 500, it provides financing and leasing capital and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and vendor finance. CIT also operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its online bank BankOnCIT.com, offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com<\/p>\n

The post CIT Arranges $220 Mln Loan for TrustHouse Buy<\/a> appeared first on peHUB<\/a>.<\/p>\n

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CIT Group said Wednesday that it arranged a $220 million loan to help finance Elior SCA and Charterhouse Capital Partners‘ buy of TrustHouse Services Group. Charlotte, N.C.-based TrustHouse provides contract food services to the healthcare, education and corrections sectors. PRESS RELEASE CIT Group Inc.\u00a0(NYSE: CIT) cit.com, a leading provider of financing and advisory services to […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-654236","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/654236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=654236"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/654236\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=654236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=654236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=654236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}