CIT Group’s joint venture financing unit CIT Northbridge Credit served as sole lead arranger on a $17 million senior secured revolving and term loan credit facility for Walker Zanger.

Walker Zanger, headquartered in Los Angeles, is a retailer and wholesale distributor of ceramic, marble, granite and limestone tiles and slabs. The company provides products for residential and commercial uses, particularly those involving applications in homes, boutiques, resorts, museums and restaurants.

“This financing from CIT Northbridge Credit is a key element in our strategy to build our business and serve our customers,” said Jonathan Zanger, president of Walker Zanger. “The expertise and insights of the CIT Northbridge team were critical in driving a smooth and efficient closing of this credit facility.”

“Recognizing the expertise of the owners and managers of this well-established brand, CIT Northbridge was pleased to provide the additional liquidity and operating flexibility necessary to enable the company to execute on its business plan,” said Neal Legan, who leads CIT Northbridge. “It was a pleasure to work with this family-owned business and management team to structure a revolving credit facility that will meet the needs of Walker Zanger for years to come.”

CIT Northbridge Credit is a joint venture advised by CIT’s Asset Management unit that 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.