First Citizens Bank announced CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management LLC, provided a $40 million revolving credit facility to B&W Fiber Glass Inc., a distributor of fiber glass and manufacturer of technical textile fiberglass and reinforcement materials.

B&W Fiber Glass was founded in 1998 and remains a family owned and operated business headquartered in Shelby, NC. Its fiberglass is used by a wide range of industries in such products as reinforced tapes, architectural applications, surfboards, aircraft, and circuit boards. The company's operations consist of 60 percent distribution and 40 percent manufacturing.

"We appreciate working the CIT Northbridge in helping us secure financing that will enable us to continue to grow our business," said Brent Beason, president and chief financial officer of B&W Fiber Glass.

"B&W Fiber Glass is well positioned to serve the needs of many businesses in this vibrant market," said Neal Legan, who leads the team that advises CIT Northbridge Credit. "We are pleased to provide B&W Fiber Glass with this line of credit as they continue to leverage their strategic business objectives."

CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by First Citizens Institutional Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender.