03/16/2016
Citizens Bank provides $35.5 million credit facility for Three D Metals, Inc.
Funds will be used for acquisition of Williams Metals and Welding Alloys, Inc.
CLEVELAND – Citizens Bank announced today that Citizens Commercial Banking has provided a $35.5 million credit facility to Valley City, Ohio-based Three D Metals, Inc., to help fund the acquisition of Wayne, Pa.-based Williams Metals and Welding Alloys, Inc.
The acquisition expands Three D Metals Inc.’s product offerings and geographic coverage in North America.
Three D Metals, a leader in metals slitting and distribution, operates a 160,000-square-foot production facility at its headquarters in Valley City, Ohio.
Williams Metals, a ferrous and nonferrous products service center, operates eight facilities in the eastern half of the United States, including its headquarters in Wayne, Pa.; a sales and administration office in Pittsburgh; four sales and warehouse locations in Alabama, Missouri, North Carolina and Ohio; and two sales operations in Illinois and Ohio.
“We have been a longtime client of Citizens Commercial Banking and we appreciate the partnership,” said David D. Dickens Jr., the company’s new chief executive officer. “The Citizens team brings excellent ideas and seamless execution to every transaction.”
“Three D Metals is a longtime customer with a great business,” said Chris Carmosino, President of Business Capital at Citizens. “We’re happy to be able to help Three D management with this important acquisition.”
For more information, go to Citizens Commercial Banking.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $138.2 billion in assets as of December 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 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 as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
