05/02/2022
Citizens leads new credit facility for 1A Auto, Inc.
PROVIDENCE, RI – Citizens is leading a new senior secured credit facility for Nashua, N.H.-based 1A Auto, Inc., a leading specialty e-tailer of automotive products. Citizens is Lead Left Arranger and Administrative Agent.
The company, which provides aftermarket automotive parts directly to end-user consumers, will use the new funds for an employee stock ownership plan (ESOP) as well as ongoing working capital and to support future growth of the business. The ESOP will allow the company’s employees to share in its success and enhance their employee benefits package.
“The Citizens team listened to us, brought great ideas and believed in our company,” said Rick Green, CEO of 1A Auto. “Citizens has deep expertise in corporate finance and ESOPs and their close attention to detail really made the process easy.”
“At Citizens, we think about the needs of our clients from their point of view,” said Jerry Sargent, Northeast Region Executive, Citizens. “Providing financing so longtime clients like 1A Auto can reward loyal employees, continue to grow and strengthen our communities is one of the ways that Citizens delivers substantial value for our clients and our communities.”
Citizens is a trusted strategic and financial partner, consistently delivering clear and objective advice. The Citizens approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.
For more information, please go to the Citizens website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $192.1 billion in assets as of March 31, 2022. 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. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,200 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
