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Article: CIT Provides Financing for Acquisition of Anchor Drilling Fluids USA.
- Article from:
- Business Wire
- Article date:
- May 12, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- CIT Group Inc. (NYSE: CIT), a leading global commercial finance company, today announced that it provided financing to Castle Harlan, a New York based private equity investment firm, for the acquisition of Anchor Drilling Fluids USA, Inc., the nation's largest independent provider of drilling fluids and fluid-handling services for onshore oil and gas drilling.
CIT Energy acted as a Co-Syndication Agent in the $119.5 million senior secured credit facility for Castle Harlan and provided $20 million in revolver and term loan financing.
"The financing for Anchor Drilling Fluids' acquisition continues our long-term commitment to the Oilfield ...
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