CIT Backs Latest Harvest Partners TruckPro Add-on

CIT Backs Latest Harvest Partners TruckPro Add-on

cit NFCIT Corporate Finance served as Co-Lead Arranger in a $194.5 million senior secured credit facility to TruckPro, one of the largest independent distributors of heavy duty truck parts in the United States, to finance its acquisition of CCI Corporation. TruckPro is a portfolio company of Harvest Partners.

CCI provides drivetrain, power take-off, suspension, brakes, hydraulics and related products, as well as repair and rebuilding services, through its network of commercial vehicle parts and service locations, with 100 retail stores, service shops and distribution center locations in the US and Canada.

TruckPro is an independent distributor of heavy duty truck & trailer products. Through a network of 65 store locations, TruckPro distributes a range of products in the areas of brake systems, engines, electrical, drivetrain, and suspensions. The company sells its products to numerous end markets, including small, regional and national trucking companies, private fleets, waste services companies, construction companies, municipalities, and independent repair shops. TruckPro is based in Memphis (

“This acquisition significantly increases the scale and scope of TruckPro’s business and demonstrates our ability to support our clients’ growth objectives and funding needs,” said Jay Baldinelli, Managing Director, CIT Sponsor Finance. “This was our fifth transaction with Harvest Partners and we are pleased to continue to build upon our business relationship.”

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 ( 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 (

“We are pleased to close another transaction with CIT. CIT’s middle market lending experience and industry knowledge enables us to grow our business and execute acquisitions in a timely manner,” said Chris Whalen, Managing Director at Harvest Partners.

Harvest Partners invests in management buyouts and growth financings. Sectors of interest include business and industrial services, manufacturing and distribution, healthcare, midstream energy, and consumer products and retail sectors. The firm was founded in 1981 and is based in New York (

© 2013 PEPD • Private Equity’s Leading News Magazine • 9-5-13

To search in site, type your keyword and hit enter