CIT Group announced that it has provided a senior secured credit facility to TrustHouse Services Group, Inc. to finance its acquisition of A'viands Food Services Management, a regional foodservice provider to the healthcare and education sectors. TrustHouse is a portfolio company of Gryphon Investors, a San Francisco-based middle market private equity firm.

“Following this acquisition, TrustHouse is one of the top 10 food services providers in the United States employing approximately 4,500 individuals.”

CIT Sponsor Finance served as Joint Lead Arranger and Administrative Agent for the transaction. Financing was provided by CIT Bank, a wholly-owned subsidiary of CIT. Terms of the transaction were not disclosed.

“We are pleased to provide this financing to support TrustHouse’s acquisition of A’viands,” said Ian Townsager, Director of CIT Sponsor Finance. “Following this acquisition, TrustHouse is one of the top 10 food services providers in the United States employing approximately 4,500 individuals.” Keith Stimson, a Partner at Gryphon Investors, said, “By backing TrustHouse CEO Michael Bailey and through the acquisition of A’viands, we’re continuing TrustHouse’s growth strategy to create a world-class food services business that concentrates on the healthcare and education spaces. We selected CIT to help lead the financing of this deal because of the firm’s deep knowledge and experience in the food services industry and because of their successful track record of supporting our business. This is the sixth transaction we’ve completed with the help of CIT.”

TrustHouse manages over 400 client accounts across more than 30 states. It will significantly increase its geographic footprint and nearly double the size of the Company following its acquisition of A'viands.