We are pleased to continue our relationship with Mike Bailey and his world class management team.
NEW YORK & LONDON--(BUSINESS WIRE)--CIT Group Inc. (NYSE: CIT) cit.com, a leading provider of financing and advisory services to small businesses and middle market companies, today announced that it arranged a $220 million senior secured credit facility to help finance the acquisition of TrustHouse Services Group by Elior SCA and Charterhouse Capital Partners. TrustHouse Services is a national U.S. provider of contract food services to the Healthcare, Education and Corrections sectors. Based in Paris, France, Elior is a premier global provider of contract food services and food concessions. Charterhouse Capital Partners is a leading UK- based private equity firm.
CIT Corporate Finance served as Sole Lead Arranger and Administrative Agent for the transaction. Financing was provided byCIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.
Jamie Arnell, Partner of Charterhouse, said, "We are pleased to continue our growth strategy for Elior as it partners with TrustHouse to create a world-class food services business. We selected CIT to lead the financing of this transaction because of their relationship with TrustHouse Services and their expertise in underwriting and syndicating senior loans in the U.S. market."