First Citizens Bank announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management LLC, provided a $40 million revolving credit facility to B&W Fiber Glass Inc., a distributor of fiber glass and manufacturer of technical textile fiberglass and reinforcement materials.
 
B&W Fiber Glass was founded in 1998 and remains a family owned and operated business headquartered in Shelby, North Carolina. Their fiberglass is used by a wide range of industries in such products as reinforced tapes, architectural applications, surfboards, aircraft, and circuit boards. The company's operations consist of 60% distribution and 40% manufacturing.

"We appreciate working the CIT Northbridge in helping us secure financing that will enable us to continue to grow our business," said Brent Beason, president and chief financial officer of B&W Fiber Glass.

"B&W Fiber Glass is well positioned to serve the needs of many businesses in this vibrant market," said Neal Legan, who leads the team that advises CIT Northbridge Credit. "We are pleased to provide B&W Fiber Glass with this line of credit as they continue to leverage their strategic business objectives."