CIT Serves as Lead Arranger and Administrative Agent for Winchester Electronics Corp's Acquisition of SRI Hermetics

CIT Group Inc. CIT cit.com, a leading provider of commercial lending and leasing services, today announced that it served as Lead Arranger and Administrative Agent for a senior secured credit facility for Winchester Electronics Corp. (Winchester), a portfolio company of Audax Private Equity, to acquire SRI Hermetics (SRI), a manufacturer of specialty hermetic connectors and electronic packaging solutions. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed. “This transaction demonstrates our firm's strong support and deep relationship with Audax,” said Tom Hobbis, Co-Head and Managing Director of CIT Sponsor Finance. Jay Baldinelli, Managing Director of CIT Sponsor Finance, said, “This acquisition expands Winchester's product line to include hermetic capabilities and strengthens its presence in the Military and Aerospace, Test and Measurement, and Medical end-markets. We're pleased we could continue to build our relationship with Audax by helping them grow Winchester.”