CIT Group announced that it arranged and syndicated $175 million in senior secured credit facilities to support Odyssey Investment Partners’ acquisition of BarrierSafe Solutions International, a leading innovator and provider of disposable gloves.

“This deal further demonstrates our ability to successfully support the growth objectives of our clients, as well as our continued commitment to providing financing solutions for middle market companies.”

CIT Healthcare served as Administrative Agent, Joint Lead Arranger and Co-Bookrunner 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 support Odyssey and BarrierSafe in this successful acquisition,” said Steve Warden, President of CIT Healthcare. “This deal further demonstrates our ability to successfully support the growth objectives of our clients, as well as our continued commitment to providing financing solutions for middle market companies.”
 
Mike Mattos, CEO of BarrierSafe, said, “CIT’s knowledge of our end markets has brought flexibility and thoughtfulness to our financing needs. We look forward to continuing our relationship with CIT Healthcare as we execute on our strategic goals.”

Brian Zaumeyer, a Principal of Odyssey Investment Partners, said, “With a strong balance sheet and their proven ability to execute with certainty under a tight timeline, CIT Healthcare was a logical partner for us on this transaction.”