10/03/2016
Citizens Bank provides $11 million senior credit facility to Center Line Electric, Inc.
DETROIT – Citizens Bank announced today that Citizens Commercial Banking has provided Center Line Electric, Inc. with an $11 million senior credit facility to finance the purchase of a majority stake in the business by new owner Kelvin Squires, a former Ford Motor Co. executive.
The Center Line, Mich.-based firm has more than 60 years of experience in the electric contracting industry and is one of the most recognized electrical contractors in Southeast Michigan.
“Citizens Bank is a great financial and strategic partner. The Citizens team brings smart ideas to every meeting and provides seamless execution,” said Squires. “We look forward to working more with them in the future.”
“Center Line is an excellent client with a strong management team,” said Rick Hampson, Michigan President of Citizens Bank. “Our bankers are very happy to have been able to help them achieve their goals.”
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 $145.2 billion in assets as of June 30, 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 wealth management, 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.
