CIT Serves as Joint Lead Arranger in $65 Million Financing of Blue Wolf Capital Partners’ Acquisition of National Home Heal...
May 19 2016 - 08:30AM
Business Wire
- Blue Wolf Is a Private Equity Firm That
Specializes in Responsibly Transforming Companies
- National Home Health Care Is a Home
Health Provider That Offers a Range of Personal Care and Skilled
Nursing Services
- Home Healthcare Market Is One of the
Largest and Most Rapidly Growing Sectors of the U.S. Economy
CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of
commercial lending and leasing services, today announced
that CIT Healthcare Finance served as Joint Lead Arranger and
Syndication Agent for a $65 million senior secured credit facility
to Blue Wolf Capital Partners, a private equity firm that
specializes in responsibly transforming companies by managing
challenging situations and complex relationships to align
stakeholder interests and generate superior returns. The financing
supported Blue Wolf’s acquisition of National Home Health Care
Corp. (NHHC), a home health provider that offers a range of
personal care and skilled nursing services. Financing was provided
by CIT Bank, N.A., the principal bank subsidiary of CIT. Terms of
the transaction were not disclosed.
Adam Blumenthal, Managing Partner, Blue Wolf Capital Partners,
said, “National Home Health Care is an important addition to our
investment portfolio. NHHC’s focus on home healthcare for surgical
recovery, rehabilitative therapy, behavioral health and the effects
of aging is aligned with the trends in today’s healthcare market
and presents significant future growth opportunities. We are
pleased to partner with CIT to help consummate this
transaction.”
Steven Fialkow, Chief Executive Officer, National Home Health
Care, said, “We are excited to partner with Blue Wolf as we grow
our home health platform and continue to deliver excellent care to
our clients.”
William Douglass, Group Head and Managing Director, CIT
Healthcare Finance, said, “We’re pleased to leverage our expertise
in healthcare financing to support Blue Wolf’s acquisition of
National Home Health Care. With the ongoing shift of long-term care
away from institutional-based settings toward home-based personal
care services, the home healthcare market presents significant
opportunities for growth.”
Will Duke, Managing Director, CIT Healthcare Finance, said, “We
are excited to partner with Blue Wolf on this transaction and look
forward to supporting National Home Health Care as it pursues its
strategic growth objectives.”
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About Blue Wolf Capital Partners
Blue Wolf Capital is a private equity firm that specializes in
control investments in middle market companies based in the United
States and Canada. Leading by experience, and with a commitment to
excellence, Blue Wolf transforms companies strategically,
operationally and collaboratively. Blue Wolf manages challenging
situations and complex relationships between business, customers,
employees, unions, and regulators to generate superior returns and
build value for stakeholders. bluewolfcapital.com
About National Home Health Care Corp.
Founded in 1983 and headquartered in Scarsdale, NY, National
Home Health Care (NHHC) offers a range of home care services across
its personal care and skilled nursing businesses to patients with
home care requirements arising from, among other things, recovery
after a surgery, the need for rehabilitative therapy after an
accident, the need to manage debilitating behavioral issues, and
the effects of aging that make essential daily activities hard or
impossible to perform without assistance. NHHC has over 10,000
daily patients across NY, CT, MA and NJ. nhhc.net
About CIT
Founded in 1908, CIT (NYSE:CIT) is a financial holding company
with more than $65 billion in assets. Its principal bank
subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has
more than $30 billion of deposits and more than $40 billion of
assets. It provides financing, leasing and advisory services
principally to middle market companies across a wide variety of
industries primarily in North America, and equipment financing and
leasing solutions to the transportation sector. It also offers
products and services to consumers through its Internet bank
franchise and a network of retail branches in Southern California,
operating as OneWest Bank, a division of CIT Bank, N.A. cit.com
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CIT MEDIA RELATIONS:Matt Klein, 973-597-2020Director,
Media RelationsMatt.Klein@cit.comorCIT INVESTOR
RELATIONS:Barbara Callahan, 973-740-5058Senior Vice
PresidentBarbara.Callahan@cit.com
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