03/09/2015
Citizens Bank leads financing for Graphic Controls’ latest acquisition
Buffalo, N.Y. manufacturer uses commercial bank loan to acquire Vermont-based medical device maker
BUFFALO – Citizens Bank announced today that it has arranged acquisition financing for Buffalo, N.Y.-based Graphic Controls to acquire Bellows Falls, Vt.-based Vermed, Inc.
Graphic Controls is a leading supplier of consumable products for industrial, medical and gaming markets with manufacturing operations and sales offices in the United States, Canada, Europe and the United Kingdom.
Vermed manufactures medical devices, electrodes, line care products, electrotherapy devices, urethral catheter support, topical skin adhesives and other similar products.
Graphic Controls has been a client of Citizens Bank since 2004.
“The Citizens Commercial Banking team was an excellent partner on this transaction,” said Graphic Controls President/CEO Sam Heleba. “Citizens brings great ideas to the table and is able to execute quickly to help us meet our financial goals.”
“Graphic Controls is a great client with international reach and a superb business operation,” said Jim Gaspo, President of Citizens Bank in New York. “The Citizens Commercial Banking team is pleased to be able to help Graphic Controls’ management team achieve their strategic and financial goals.”
Citizens Commercial Banking is ranked eighth overall U.S. middle market bookrunner by number of deals and sixth for sponsored deals, according to the Thomson Reuters league tables.
For more information about Citizens Commercial Banking, visit the Citizens Bank commercial lending and banking services website.
About Citizens Financial Group, Inc.
Citizens Financial Group Inc. (NYSE: CFG) is one of the nation’s oldest and largest financial institutions, with $132.9 billion in assets as of December 31, 2014. Headquartered in Providence, Rhode Island, the company offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Consumer Banking helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank and Charter One branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in selective markets nationwide. Citizens Commercial Banking offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance. Citizens operates via subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
