People's United Bank Provides Mortgage Financing for Atlantis Management Group
People's United Bank (NASDAQ: PBCT) has announced it is the Lead Arranger and Administrative Agent for a credit facility benefiting Atlantis Management Group, a motor fuel distributor based in Mt. Vernon, NY. The credit facility aims to support Atlantis's growth and new acquisitions. Kevin Dolan, SVP at People's United, emphasized the strong partnership between the two companies, highlighting their commitment to providing tailored financial solutions. People's United Bank manages approximately $65 billion in assets, serving various regions across the Northeast and Mid-Atlantic.
- Lead Arranger role suggests growing business relationships.
- Credit facility to support Atlantis Management's expansion and acquisitions.
- Strengthening of competitive position in the Northeast's fuel distribution market.
- None.
BRIDGEPORT, Conn., Jan. 26, 2022 /PRNewswire/ -- People's United Bank, N.A. (NASDAQ: PBCT), announced that it served as Lead Arranger and Administrative agent for a credit facility for Atlantis Management Group, a Mt. Vernon, New York headquartered motor fuel distributor and owner and operator of a large network of gasoline service stations, quick serve restaurants and convenience store sites. The facility will be used to support the continued growth of the company, including the funding of new acquisitions.
"We are thrilled to continue and expand our longstanding relationship with Atlantis to provide them with additional capital and expertise in support of their efforts to expand their company," said Kevin Dolan, SVP, Commercial Banking, People's United Bank. Added Ken Jamison, SVP of Loan Syndications at People's United: "Companies demand a lending partner who can deliver flexible, industry-focused solutions and a personalized approach to service, and we look forward to supporting future growth plans for Atlantis Management."
"The People's United team understands the unique elements of our industry which makes them an attractive lending partner as we look to expand our portfolio in the Northeast," said Tumay Basaranlar, CEO, Atlantis Management Group LLC. "Atlantis values loyalty and trust in all that it does, and we found that People's United Bank shares that same mindset."
People's United's Commercial Banking and Capital Markets Divisions are comprised of experienced in-market Bankers across the Northeast and Mid-Atlantic who provide local, market-based solutions to organizations across industries. The teams offer Commercial Banking solutions, including Treasury Management, Wealth Management, and Derivatives as well as funds for acquisitions, construction, equipment, working capital needs or debt restructuring.
About People's United Bank, N.A.
People's United Bank, N.A. is a subsidiary of People's United Financial, Inc., a diversified, community-focused financial services company headquartered in the Northeast with approximately
About Atlantis Management Group, LLC
Atlantis Management Group (AMG) is one of the leading gasoline service station and convenience store operators, branded and unbranded motor fuel distributors and wholesalers in the Northeast. AMG has a skilled and dedicated team of executives with decades of combined experience in the petroleum and C-store industry, working every day to serve its customers. In addition to its Mt. Vernon headquarters, the company maintains a regional office in Kensington, Connecticut and markets motor fuel and convenience store products in New York, New Jersey, Connecticut and Massachusetts. For more information on Atlantis Management Group, visit atlantismgmt.com.
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SOURCE People's United Bank
