B&W Fiber Glass Receives $40 Million Financing from CIT Northbridge Credit

Featured Image and Financing Announcement for B&W Fiber Glass Inc. by CIT Northbridge Credit

First Citizens Bank, in collaboration with CIT Northbridge Credit, has provided a $40 million revolving credit facility to B&W Fiber Glass Inc., a leading distributor and manufacturer of fiberglass products. Founded in 1998 and based in Shelby, North Carolina, B&W Fiber Glass supplies a wide range of industries with fiberglass materials used in various applications such as reinforced tapes, surfboards, and aircraft components.

Brent Beason, president and CFO of B&W Fiber Glass, expressed gratitude for the financing support from CIT Northbridge, emphasizing the importance of this partnership in fueling the company’s growth. Neal Legan, leading the CIT Northbridge Credit team, highlighted B&W Fiber Glass’s strategic positioning in the market and the significance of providing them with a line of credit to support their business objectives.

CIT Northbridge Credit, a trusted financial partner for middle-market companies, offers flexible asset-based debt solutions ranging from $15 million to $150 million. As a joint venture advised by First Citizens Institutional Asset Management, CIT Northbridge Credit serves as a reliable lender for companies across various industries and business cycles.

First Citizens Bank, headquartered in Raleigh, N.C., is committed to helping clients build financial strength and stability. With a legacy of long-term thinking and a strong presence in the financial industry, First Citizens offers a wide range of banking services to individuals, businesses, and wealth clients nationwide. Parent company First Citizens BancShares, Inc. is a top 20 U.S. financial institution with over $200 billion in assets, solidifying its position in the Fortune 500™.

This collaboration between First Citizens Bank, CIT Northbridge Credit, and B&W Fiber Glass Inc. underscores the importance of strategic financial partnerships in driving business growth and success in today’s competitive market.

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