CIT Group Inc. (London: CIT), a leading global provider of commercial and consumer finance solutions, today announced that it provided 69 million in acquisition financing to HgCapital, a European sector-focused private equity investor, to fund the management buyout of SHL Group PLC, a world leader in objective assessment. CIT served as arranger and underwrote debt facilities for the successful public-to-private acquisition which went wholly unconditional today.
Graham Randell, Managing Director of CIT Commercial Finance, Europe said, “We are pleased to have been associated with yet another successful transaction for HgCapital in the UK. CIT is developing a solid reputation for being an innovative, willing and capable provider of acquisition finance.”
CIT Capital Finance (UK) is currently undertaking a limited initial syndication of the facilities and is the sole Mandated Lead Arranger, Book runner, Facility Agent and Security Trustee on the transaction.
Other recent financings by CIT Commercial Finance, Europe include:
27.4 million refinancing of IXEurope PLC, one of Europe’s largest and fastest growing data centre services providers.
Underwritten debt facilities worth 50 million for First Technology Safety and Analysis (FTSA), a global leader in crash test dummies and related safety products.
CIT Capital Finance (UK) is a wholly owned subsidiary of CIT, a Fortune 500 company with more than $70 billion in managed assets. CIT Capital Finance (UK) is a UK-based provider of leveraged and structured finance to the Private Equity Sponsor market. CIT has more than 7,200 employees in locations throughout North America, Europe, Latin America, and Asia Pacific.