06/07/2017
Citizens Bank leads $37 million in financing for Clio Holdings, LLC
Funds will be used to purchase Georgia-based countertop fabricator Premier Surfaces
BIRMINGHAM, MI – Citizens Bank announced today that Citizens Commercial Banking is providing a new credit facility to Birmingham, MI-based Clio Holdings, LLC, increasing its commitment to more than $37 million. Citizens is sole lead arranger.
Clio Holdings, LLC is owned by Oakland Standard Co., O2 Investment Partners and Tecum. It serves as the holding company to execute management’s buy-and-build strategy focused on the countertop industry. Clio is now among the largest countertop fabricators in the United States. The company offers a full product line of natural stone, quartz, solid surface and other countertop surfaces for new home construction, big box stores and repair/remodel customers.
The new funds will be used to purchase Georgia-based countertop fabricator Premier Surfaces.
“Citizens Bank brings excellent ideas to the table and executes on them quickly,” said Bryan Tolles of Oakland Standard Co. “We look forward to continuing to work with the Citizens team as a strategic and financial partner as our business continues to grow.”
“Clio Holdings has been a great client for Citizens and we’re very happy to help them achieve their goals,” said Rick Hampson, president, Citizens Bank, Michigan. “Helping clients grow by providing acquisition financing is just one of the ways that Citizens delivers value for clients at every stage of their business life cycle.”
Citizens is 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 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.
