CIT, a division of First Citizens Bank, announced CIT Northbridge Credit, as advised by CIT Asset Management LLC, provided financing to Mohawk Fine Papers, the largest privately held premium paper manufacturer in North America. The financing will be used to refinance existing debt and provide working capital to support strategic initiatives and future endeavors.

Founded in 1931, Mohawk Fine Papers, Inc, is family owned and operated, manufacturing some of the world's most recognized specialty papers for designers, consumer brands and printers globally. Mohawk's early innovation in digital printing and sustainability has secured its leadership position in these two significant growth sectors. Crane Stationery is also a business unit of Mohawk, producing some of the finest social stationery products.

"Mohawk worked closely with CIT Northbridge to design a financing package that supports our business goals for growth and vision," said Casey Rosenzweig, CFO & SVP at Mohawk Fine Papers. "We were impressed with CIT's experience, creativity and flexibility throughout the financing process and look forward to a long relationship."

"Mohawk Fine Papers' 90-year legacy of innovation and craftsmanship, global brand equity, and highly experienced management team were all driving factors in our commitment to support a long-term financing solution," said Neal Legan, who leads CIT Northbridge. "We're pleased to provide a finance package that supports their business plans and growth."