CIT Northbridge Credit Provides $65 Million Credit Facility to CherCo Solutions

NEW YORK, N.Y. — January 29, 2026 — CIT Northbridge Credit today announced that it has provided a $65 million secured credit facility to CherCo Solutions LLC, an energy infrastructure firm focused on contracted natural-gas compression and aftermarket services for upstream and midstream operators.

Headquartered in Houston, CherCo offers gas and electric compression for a range of horsepower, and provides maintenance and operational support throughout Texas, New Mexico, Louisiana and Oklahoma.

“As demand for reliable, low-emissions compression grows, we are expanding our capabilities to better serve our customers in key areas,” said Chet Erwin, CEO of CherCo. “We appreciate CIT Northbridge's support in securing this financing which will enable us to invest in new equipment and expand our operations.”

“CherCo has built a reputation for providing top-tier solutions with a customer-first driven approach,” said Neal Legan, Business Leader, CIT Northbridge. “We are thrilled to provide CherCo with this new facility and support their commitment to delivering solutions that help provide low-emissions natural gas compression services.”

CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by First Citizens Institutional Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender.

About CIT Northbridge
CIT Northbridge Credit is a joint venture advised by First Citizens Institutional Asset Management. First Citizens Institutional Asset Management is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not in any way constitute an endorsement by the SEC of an investment adviser’s skill or expertise. Moreover, registration does not imply that a registered adviser has achieved a certain level of skill, competency, sophistication, expertise, or training in providing advisory services to its clients. First Citizens Institutional Asset Management is a wholly owned subsidiary of CIT Loan Corporation, which is in turn a wholly owned subsidiary of First Citizens Bank & Trust Company.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

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