06/15/2016
Citizens Bank leads $97 million credit facility for Graphic Controls
Funds used to acquire Colorado medical device maker and refinance debt
BUFFALO – Citizens Bank announced today that Citizens Commercial Banking is leading a $97 million senior credit facility for Buffalo, N.Y.-based Graphic Controls.
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 and Europe.
A Citizens client since 2004, Graphic Controls will use the credit facility to acquire CEA Medical, a Colorado Springs -based manufacturer of medical devices, and to refinance debt.
Citizens is Sole Left Lead Arranger in the five-bank group.
“We have been a longtime client of Citizens Bank through several transactions and we appreciate the partnership,” said Sam Heleba, President/CEO of Graphic Controls. “Jason Houseman and the whole Citizens team closed this transaction on time under an aggressive schedule, which is an example of Citizens’ commitment to its clients and to the Western New York market.”
“Graphic Controls has been a great client, and we’re very happy to be able to offer our industry expertise as well as our capital markets capabilities to help them achieve their strategic and financial goals,” said Jerry Sargent, Head of Middle Market Banking at Citizens Bank.
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 $140.1 billion in assets as of March 31, 2016. 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.
