CIT Northbridge Credit Provides $45 Million to MacPherson's
First Citizens Bank announced that CIT Northbridge Credit has provided a $45 million revolving credit facility to MacPherson's, North America's largest creative materials distributor. MacPherson's distributes over 50,000 products from 200+ brands to retailers worldwide, with headquarters in Suwanee, Georgia and warehouses in Suwanee and Reno, Nevada.
Dave Schofield, CEO of MacPherson's, expressed appreciation for CIT Northbridge Credit's expertise and agility in creating a financial package to support their growth objectives. Neal Legan, who leads the team advising CIT Northbridge Credit, highlighted MacPherson's reputation in the industry for their expansive offerings and exclusive brands.
CIT Northbridge Credit, a joint venture advised by First Citizens Institutional Asset Management, provides flexible asset-based debt solutions to middle-market companies, offering revolving and term loan commitments from $15 million to $150 million.
First Citizens Bank ha annunciato che CIT Northbridge Credit ha fornito un prestito rotativo di 45 milioni di dollari a MacPherson's, il più grande distributore di materiali creativi del Nord America. MacPherson's distribuisce oltre 50.000 prodotti di oltre 200 marchi a rivenditori in tutto il mondo, con sede a Suwanee, in Georgia e magazzini a Suwanee e Reno, in Nevada.
Dave Schofield, CEO di MacPherson's, ha espresso apprezzamento per l'expertise e l'agilità di CIT Northbridge Credit nella creazione di un pacchetto finanziario a supporto dei loro obiettivi di crescita. Neal Legan, che guida il team che consiglia CIT Northbridge Credit, ha evidenziato la reputazione di MacPherson's nel settore per la loro ampia offerta e i marchi esclusivi.
CIT Northbridge Credit, una joint venture consigliata da First Citizens Institutional Asset Management, offre soluzioni di debito flessibili basate su asset per aziende di medie dimensioni, con impegni di prestiti rotativi e a termine che vanno da 15 milioni a 150 milioni di dollari.
First Citizens Bank anunció que CIT Northbridge Credit ha proporcionado una línea de crédito revolvente de 45 millones de dólares a MacPherson's, el mayor distribuidor de materiales creativos de América del Norte. MacPherson's distribuye más de 50,000 productos de más de 200 marcas a minoristas en todo el mundo, con sede en Suwanee, Georgia y almacenes en Suwanee y Reno, Nevada.
Dave Schofield, CEO de MacPherson's, expresó su agradecimiento por la experiencia y agilidad de CIT Northbridge Credit para crear un paquete financiero que respalde sus objetivos de crecimiento. Neal Legan, quien lidera el equipo que asesora a CIT Northbridge Credit, destacó la reputación de MacPherson's en la industria por su amplia oferta y marcas exclusivas.
CIT Northbridge Credit, una empresa conjunta asesorada por First Citizens Institutional Asset Management, proporciona soluciones de deuda flexibles basadas en activos para empresas de mercado medio, ofreciendo compromisos de préstamos revolventes y a plazo de 15 millones a 150 millones de dólares.
퍼스트 시티즌스 은행은 CIT 노스브릿지 크레딧이 북미 최대의 창의적인 소재 유통업체인 맥퍼슨스에 4,500만 달러 규모의 회전신용 대출을 제공했다고 발표했습니다. 맥퍼슨스는 50,000개 이상의 제품을 200개 이상의 브랜드에서 전 세계 소매업체에 유통하고 있으며, 본사는 조지아주 수와니에 위치하고, 네바다주 리노에 물류창고를 운영하고 있습니다.
맥퍼슨스의 CEO인 데이브 쇼필드는 CIT 노스브릿지 크레딧의 전문성과 민첩성에 대해 감사의 뜻을 전하며, 그들의 성장 목표를 지원하기 위한 금융 패키지를 만들었다고 밝혔습니다. CIT 노스브릿지 크레딧을 자문하는 팀을 이끌고 있는 네일 리건은 맥퍼슨스의 업계 내 명성과 광범위한 제품 제공 및 독점 브랜드에 대해 강조했습니다.
CIT 노스브릿지 크레딧은 퍼스트 시티즌스 기관 자산 관리의 자문을 받는 합작 투자로, 중소기업에 유연한 자산 기반 부채 솔루션을 제공하며, 1,500만 달러에서 1억 5천만 달러까지의 회전 및 기간 대출 약정을 제공합니다.
First Citizens Bank a annoncé que CIT Northbridge Credit a fourni une ligne de crédit renouvelable de 45 millions de dollars à MacPherson's, le plus grand distributeur de matériaux créatifs en Amérique du Nord. MacPherson's distribue plus de 50 000 produits de plus de 200 marques à des détaillants du monde entier, avec son siège à Suwanee, en Géorgie et des entrepôts à Suwanee et Reno, au Nevada.
Dave Schofield, PDG de MacPherson's, a exprimé sa gratitude pour l'expertise et l'agilité de CIT Northbridge Credit dans la création d'un package financier pour soutenir leurs objectifs de croissance. Neal Legan, qui dirige l'équipe conseillant CIT Northbridge Credit, a souligné la réputation de MacPherson's dans l'industrie pour son vaste éventail de produits et ses marques exclusives.
CIT Northbridge Credit, une coentreprise conseillée par First Citizens Institutional Asset Management, propose des solutions de dette flexibles basées sur des actifs pour les entreprises de taille intermédiaire, offrant des engagements de prêts renouvelables et à terme de 15 millions à 150 millions de dollars.
Die First Citizens Bank gab bekannt, dass CIT Northbridge Credit eine überdachte Kreditlinie über 45 Millionen Dollar an MacPherson's bereitgestellt hat, dem größten Anbieter kreativer Materialien in Nordamerika. MacPherson's vertreibt über 50.000 Produkte von über 200 Marken an Einzelhändler weltweit, mit Hauptsitz in Suwanee, Georgia, und Lagern in Suwanee und Reno, Nevada.
Dave Schofield, CEO von MacPherson's, äußerte seine Wertschätzung für die Expertise und Flexibilität von CIT Northbridge Credit bei der Erstellung eines finanziellen Pakets zur Unterstützung ihrer Wachstumsziele. Neal Legan, der das Team leitet, das CIT Northbridge Credit berät, hob den guten Ruf von MacPherson's in der Branche für ihr umfangreiches Angebot und ihre exklusiven Marken hervor.
CIT Northbridge Credit, ein Gemeinschaftsunternehmen, das von First Citizens Institutional Asset Management beraten wird, bietet flexible, assetbasierte Schuldnerlösungen für mittelständische Unternehmen an und bietet über 15 Millionen bis 150 Millionen Dollar umfassende Kredit- und Darlehensverpflichtungen an.
- CIT Northbridge Credit provided a $45 million revolving credit facility to MacPherson's
- MacPherson's is the largest creative materials distributor in North America
- The credit facility will support MacPherson's growth objectives
- None.
Insights
The $45 million revolving credit facility provided to MacPherson's is a positive development for the company's financial flexibility. As the largest creative materials distributor in North America, this funding could significantly bolster MacPherson's working capital and support its growth initiatives. The revolving nature of the facility allows for efficient cash management, potentially improving the company's liquidity position.
However, investors should note that while this funding is beneficial, it also increases MacPherson's debt obligations. The key will be how effectively the company utilizes this capital to drive growth and generate returns that outpace the cost of borrowing. Without specific financial details or performance metrics, it's challenging to fully assess the impact on MacPherson's overall financial health.
This credit facility highlights the robust demand in the creative materials industry. MacPherson's extensive product range (over 50,000 items) and broad brand partnerships (200+ brands) indicate a diverse and potentially resilient business model. The company's strategic positioning with warehouses in Suwanee, GA and Reno, NV suggests an efficient distribution network capable of serving a wide geographic area.
The backing from a reputable financial institution like First Citizens Bank, through CIT Northbridge Credit, could be seen as a vote of confidence in MacPherson's business prospects. This deal may signal potential growth or consolidation opportunities in the creative materials distribution sector, which could be of interest to investors looking at ancillary markets in the broader retail and consumer goods space.
MacPherson's is the largest creative materials distributor in
"We appreciate the expertise of CIT Northbridge Credit and their agility in coming up with a financial package that will support our growth objectives," said Dave Schofield, chief executive officer of MacPherson's.
"MacPherson's is well-known in the creative materials industry for their expansive offerings, exclusive brands and talented leadership," said Neal Legan, who leads the team that advises CIT Northbridge Credit. "We look forward to working with MacPherson's and facilitating their strategic initiatives."
CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by First Citizens Institutional Asset Management, it provides revolving and term loan commitments from
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in
MEDIA RELATIONS:
Ella Bristow
(212) 461-5322
Ella.Bristow@firstcitizens.com
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SOURCE First Citizens Bank
FAQ
What is the size of the credit facility provided to MacPherson's by CIT Northbridge Credit?
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Where is MacPherson's headquartered and where are its warehouses located?
What is the range of loan commitments offered by CIT Northbridge Credit?
