CIT Group has arranged a $160 million senior secured credit facility for The Jordan Company to support its November 2013 acquisition of Transilwrap Company, a specialty film products company, from Nicolet Capital Partners.
CIT Corporate Finance served as Lead Arranger and Administrative Agent for the transaction. Financing was provided by CIT Bank, the US commercial bank subsidiary of CIT.
“CIT is pleased to continue our long standing relationship with Transilwrap, having agented the prior private equity buyout completed in September 2007,” said Tom Hobbis, Co-Head and Managing Director of CIT Sponsor Finance. “This deal highlights our specialized industry expertise and our ability to put our knowledge to work for our clients. We are proud to serve as a finance partner to The Jordan Company and look forward to further building our relationship.”
Transilwrap is a manufacturer, converter and distributor of plastic film used in printing, laminating, packaging and industrial applications. The company provides specialized manufacturing and converting services including liquid and extrusion coating, sheet extrusion, and a range of converting including slitting, sheeting, magnetic striping, security and specialty printing. Transilwrap’s customers are active in a range of end markets including display advertising & print media, packaging, security ID, office products, healthcare and solar. Transilwrap is headquartered near Chicago in Franklin Park, IL and has eight manufacturing facilities and nine distribution centers throughout North America (www.transilwrap.com).
“In addition to its specialized industry knowledge, CIT was selected to lead the financing of this transaction because of its longstanding relationship with Transilwrap and The Jordan Company, its expertise in underwriting and syndicating senior loans in the US and its ability to close deals quickly and efficiently,” said Mike Denvir, Senior Partner of The Jordan Company.
The Jordan Company is a middle-market private equity firm with over $6 billion of assets under management. The firm was founded in 1982 and is headquartered in New York with additional offices in Chicago and Shanghai (www.thejordancompany.com).
CIT 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 (www.cit.com/corporatefinance). The corporate finance group is part of CIT, a bank holding company with more than $35 billion in assets. CIT was founded in 1908 and is based in New York (www.cit.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-29-14
