07/08/2015
Citizens Bank leads new senior secured credit facilities for Camin Cargo Control, Inc.
Oil and Gas financing supports Metalmark Capital’s partnership with management to acquire company
HOUSTON – Citizens Bank today announced that it has closed new senior secured credit facilities for Camin Cargo Control, Inc., a leading third-party service provider of inspection, testing and fuel treatment services to the petroleum products industry in the United States and internationally.
Citizens’ Oil and Gas finance division acted as Left Lead Arranger, Bookrunner and Administrative Agent on the new senior secured credit facilities. Metalmark Capital used Citizens’ commercial financing in part to partner with Camin Cargo management to acquire the company.
Camin Cargo is headquartered in New Jersey with a presence along the Gulf, East and West Coasts. Metalmark Capital, a leading private equity firm, specializes in making long-term investments in family-owned businesses and collaborating with management teams to achieve long-term growth.
“Citizens was happy to work on this transaction with Metalmark Capital and Camin Cargo management to help them meet their strategic and financial goals,” said David Slye, head of Citizens Commercial Banking’s Oil and Gas finance group.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. (NYSE: CFG) is one of the nation’s oldest and largest financial institutions, with $136.5 billion in assets as of March 31, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. In Consumer Banking, Citizens 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 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 select markets nationwide. In Commercial Banking, Citizens 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 through its 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.
About Metalmark Capital
Metalmark Capital is a leading private equity firm whose principals have a long track record of successful investing in targeted sectors, with particular expertise and focus in energy, industrials and healthcare. Metalmark Capital seeks to build long-term value through active and supportive partnerships with the companies and management teams in which it invests. Metalmark Capital is currently investing its latest fund with $2.5 billion. More information is available at www.metalmarkcapital.com.
