05/03/2017
Citizens Bank provides $60 million credit facility to Total Safety, Inc.
HOUSTON, TX – Citizens Bank announced today that Citizens Commercial Banking is providing a $60 million asset-based revolver to Total Safety, Inc, a global leader of integrated safety solutions for the energy and petrochemical industries. Citizens supported Littlejohn & Co.’s acquisition of a majority interest in Total Safety. Citizens is the sole lead bank and administrative agent.
“We appreciate the expertise of the team at Citizens,” said Clinton Roeder, chief financial officer of Total Safety, Inc. “They were able to execute this transaction very quickly and seamlessly. We look forward to having Citizens as a long-term strategic and financial partner.”
“Total Safety is a great new client and we’re pleased to be able to help the management team and the sponsor, Littlejohn & Co., achieve their strategic and financial goals,” said Chris Carmosino, president of business capital at Citizens Bank. “Providing asset-based revolvers is just one of the ways that Citizens delivers value for clients at every stage of their business life cycle.”
For more information about Citizens, visit the Citizens Commercial Banking website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $150.3 billion in assets as of March 31, 2017. 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 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.
