CIT Backs Odyssey’s Acquisition of L-com

CIT Backs Odyssey’s Acquisition of L-com

CIT Group has provided a senior secured credit facility to Odyssey Investment Partners to support its acquisition of L-com, a designer and manufacturer of wired and wireless connectivity products. L-com was a portfolio company of The Riverside Company.

CIT Commercial & Industrial served as Co-Lead Arranger and Joint Bookrunner for the transaction. Financing was provided by CIT Bank.

“We are pleased to have arranged this financing that supports Odyssey Investment Partners’ acquisition of L-com,” said Tom Hobbis, Managing Director, CIT Sponsor Finance. “This transaction demonstrates our ability to support our clients’ growth objectives and our commitment to providing financial solutions to our middle market and private equity clients.”

L-com is a designer and manufacturer of wired and wireless connectivity products. The company’s product portfolio includes cable assemblies, connectors, adapters, industrial networking components, and custom connectivity products, as well as a line of wireless products. L-com is headquartered in North Andover, MA (

“We have developed a strong partnership with CIT and are pleased to have completed another acquisition with the support of a great team that is able to deliver comprehensive financing solutions,” said Brian Zaumeyer, a Principal at Odyssey Investment Partners.

Odyssey Investment Partners is a middle-market private equity fund with more than $2 billion under management. Odyssey makes control investments primarily in established middle-market companies in a variety of industries, including industrial manufacturing, business, financial and healthcare services, aerospace products, and localized and route-based service businesses. The firm is headquartered in New York (

CIT is a bank holding company with more than $33 billion in assets. Sectors of interest include small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and vendor finance. CIT was founded in 1908 and is based in New York, NY (

© 2012 PEPD • Private Equity’s Leading News Magazine • 9-7-12

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