First Citizens Bank announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, provided a $30 million credit facility to Conexwest, a provider of new, used and refurbished shipping containers.

Founded in 2014 and headquartered in Lathrop, Calif., Conexwest’s fleet of shipping containers supports a multitude of industries attracting customers nationwide. A majority of the company’s container rental fleet and inventory operate from its headquarters site and three additional depots in Oakland and Fontana, Calif., and Dallas, Texas.

“As we continue to grow Conexwest, we remain focused on providing our customers with leading solutions for shipping containers supporting a range of business needs,” said Vitali Barkouski, President of Conexwest. “We appreciated CIT Northbridge’s expertise in arranging this financing that will better position us to pursue our growth objectives.”

“Conexwest has a proven track record of delivering high-quality container solutions to companies with diverse business needs in a competitive market,” said Neal Legan, who leads the team that advises CIT Northbridge. “This financing reinforces our commitment to our customers to supporting their path for success.”

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.