CIT Serves as Joint Lead Arranger in Financing Wind Point Partners Acquisition of Hearthside Food Solutions (Business Wire)
Mon, 15 Jun 2009 12:30:00 Etc/GM
“We are pleased to support Wind Point Partners in its successful acquisition of Hearthside Food Solutions,” said Rajiv Chudgar, Director of CIT Investment Banking Services. “Our strong relationship with Wind Point and direct experience in both the food manufacturing and packaging sectors allowed us to support them throughout the entire process and successfully execute the transaction despite the challenging financing market.”
Mark Burgett, Managing Director, Wind Point Partners said, “CIT has been a valued partner of Wind Point, and has consistently supported a number of our transactions. Hearthside represents the sixth deal that CIT has led or co-led for us in the last three years. CIT’s client dedication, broad industry expertise, and ability to navigate through challenging credit markets have resulted in another seamless financing execution. We look forward to continuing our relationship with CIT.”
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About Wind Point Partners
Wind Point Partners is a Chicago-based private equity investment firm with $2.5 billion of capital under management. Wind Point focuses on partnering with top caliber CEOs to acquire middle market businesses with a clear path to value creation. www.windpointpartners.com.
About Hearthside Food Solutions
Hearthside, based in Grand Rapids, Michigan, is a leading contract manufacturer and packager that serves North America’s largest consumer products companies. Hearthside employs approximately 1,200 people in three manufacturing facilities with nearly 500,000 square feet of manufacturing space.
About CIT
CIT (NYSE: CIT - News) is a bank holding company with more than $60 billion in finance and leasing assets that provides financial products and advisory services to small and middle market businesses. Operating in more than 50 countries across 30 industries, CIT provides an unparalleled combination of relationship, intellectual and financial capital to its customers worldwide. CIT maintains leadership positions in small business and middle market lending, retail finance, aerospace, equipment and rail leasing, and vendor finance. Founded in 1908 and headquartered in New York City, CIT is a member of the S&P 500 and Fortune 500. www.cit.com
Contact:
CIT MEDIA RELATIONS: C. Curtis Ritter, 212-461-7711 Vice President Director of External Communications & Media Relations curt.ritter@cit.com or CIT INVESTOR RELATIONS: Ken Brause, 212-771-9650 Executive Vice President ken.brause@cit.com
source: http://biz.yahoo.com/bw/090615/20090615005077.html?.v=1