CIT, a division of First Citizens Bank, announced that CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $145 million credit facility for Natural Gas Compression Systems.
Based in Traverse City, MI, Natural Gas Compression Systems is a full-service gas compression equipment and service business that provides contract compression and recurring field service throughout the United States and Canada.
“There is currently a strong demand for contract compression, and we appreciate CIT Northbridge’s expertise and agility in arranging financing that enables us to deliver for our customers,” AJ Yuncker, CEO and president of Natural Gas Compression Systems, said.
“Natural Gas Compression Systems is well-positioned due to favorable industry dynamics and the company’s ability to serve its customers,” Neal Legan, who leads CIT Northbridge, said. “We were pleased to collaborate with Natural Gas Compression Systems to arrange financing that best suits their needs.”
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