05/24/2017
Citizens Bank provides $28 million in financing for PEMM, LLC and P.S. Bruckel, Inc.
Credit facility will help finance new truck stop on I-390 outside Rochester, N.Y.
AVON, N.Y. – Citizens Bank announced today that Citizens Commercial Banking has provided $28 million in new financing to Avon, N.Y.-based PEMM, LLC and P.S. Bruckel, Inc. The credit facility will be used in part to finance a new truck stop on I-390 outside Rochester, N.Y.
Founded in 1995 by Peter Bruckel, PEMM, LLC has 14 convenience and retail fuel stores in upstate New York operating as Quicklee’s and offering primarily Mobil-branded products. P.S. Bruckel, Inc. has been in business since 1980 and specializes in removing and reapplying bridge coatings across the East Coast.
“We are impressed by the Citizens team and look forward to working with them for many years in the future,” said Peter Bruckel, founder of PEMM, LLC and P.S. Bruckel, Inc. “We appreciate Citizens’ expertise and quick execution on financing transactions.”
“PEMM, LLC and P.S. Bruckel, Inc. are great new clients and we look forward to working with the great teams there,” said Michael R. Phelps, national director, Convenience and Retail Fuel Finance at Citizens. “Providing credit facilities and new solutions are just some of the many ways that Citizens can deliver value for clients.”
With an average of 15 years’ experience in the industry, Citizens’ Convenience and Retail Fuel Finance team has the market insights required to assess their clients’ needs and take action quickly.
Citizens operates as a strategic and financial partner, offering deep expertise, great ideas and seamless deal execution. The Citizens Commercial Banking approach puts clients first, and offers solutions that help clients make the best decisions throughout the life cycle of their business.
For more information, 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.
