CIT Serves as Lead Arranger in Austin Ventures' Acquisition of Delta Rigging & Tools

CIT Group Inc., a leading global commercial finance company, today announced that it served as lead arranger in a $50 million senior secured credit facility to support Austin Ventures’ acquisition of Delta Rigging & Tools, a leading provider of wire rope, rigging and lifting equipment used in energy applications throughout the United States. The financing will also provide working capital and funding for future acquisitions.

“We are pleased to serve as Lead Arranger on the debt financing supporting Austin Ventures in its successful acquisition of Delta Rigging & Tools,” said Peter Gaw, President of CIT Energy. “The transaction further demonstrates our ability to provide flexible financing solutions to support our clients’ growth needs.” read more

Source: CIT Group Inc.