First Citizens Bank announced that CIT Northbridge Credit, as advised by CIT Asset Management, has provided $45 million to refinance and upsize a secured credit facility for Tubular Synergy Group LP, a privately held sales, marketing and supply chain services distributor.
 
Founded in 2008 and headquartered in Dallas, Texas, Tubular Synergy Group provides casing, tubing, and line pipe products for the energy industry.

"Demand for our tubular products has been steadfast while inflationary pressure has altered our costs, which compelled us to upsize our credit facility," said W. Byron Dunn, CEO of Tubular Synergy. "We appreciated the seasoned expertise of the CIT Northbridge team in providing financing as we continue to deliver value to our customers."

"Tubular Synergy has a long and distinguished history of providing clients with outstanding products and services. We were pleased to deliver the financing needed to support their ongoing operations and future growth," said Neal Legan, who leads the team that advises CIT Northbridge.