CIT Group, a leading provider of financing and advisory services to small businesses and middle market companies, arranged a $220 million senior secured credit facility to help finance the acquisition of TrustHouse Services Group by Elior SCA and Charterhouse Capital Partners. TrustHouse Services is a national U.S. provider of contract food services to the healthcare, education and corrections sectors. Based in Paris, France, Elior is a premier global provider of contract food services and food concessions. Charterhouse Capital Partners is a leading UK- based private equity firm.

CIT Corporate Finance served as sole lead arranger and administrative agent for the transaction. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.

“This transaction demonstrates the commitment CIT has to providing comprehensive financial solutions to private equity firms as they complete acquisitions,” said Eric Toizer, managing director of CIT Sponsor Finance. “We are pleased to continue our relationship with Mike Bailey and his world class management team.”

Mike Bailey, CEO at TrustHouse Services, said, “Our long term relationship with CIT facilitated the smooth and efficient closing of this transaction. CIT was able to arrange flexible financing that will allow us to partner with Elior, as it expands into the U.S. market.”

Gilles Cojan, director at Elior, said, "TrustHouse provides a compelling value proposition and is well positioned to capitalize on market fragmentation. With its national scale, tailored solutions and first class customer service, we believe this acquisition will allow us to build market share and expand our global footprint in the food services sector.”

Jamie Arnell, Partner of Charterhouse, said, "We are pleased to continue our growth strategy for Elior as it partners with TrustHouse to create a world-class food services business. We selected CIT to lead the financing of this transaction because of their relationship with TrustHouse Services and their expertise in underwriting and syndicating senior loans in the U.S. market."