CIT Serves as Joint Lead Arranger in Financing Wind Point Partners Acquisition of Hearthside Food Solutions.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & CHICAGO -- CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Group Inc. (NYSE NYSE See: New York Stock Exchange : CIT), a bank holding company, today announced that it served as a joint lead arranger Lead arranger The senior tier of arranger and joint bookrunner in financing Wind Point Partners' acquisition of Hearthside Food Solutions, a co-packer and manufacturer of granola and cereal bars, snack mix components, and other baked items. The financing was executed by CIT Investment Banking Services, Sponsor Finance and CIT Commercial & Industrial through CIT Bank, a Utah state bank. Terms of the transaction were not disclosed. "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." EDITOR'S NOTE Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : Individuals interested in receiving corporate news releases can register at http://newsalerts.cit.com or subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; the RSS feed at http://rss.cit.com. In addition, CIT award-winning podcasts are available at www.5minutecapital.com. 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 “Grand Rapids” redirects here. For other uses, see Grand Rapids (disambiguation). Grand Rapids is a city in the U.S. state of Michigan. As of the 2000 census, the city population was 197,800. , 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) is a bank holding company with more than $60 billion in finance and leasing assets that provides financial products and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal 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 New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , CIT is a member of the S&P 500 and Fortune 500. www.cit.com |
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