CIT Northbridge Provides $30 Million Credit Facility to Conexwest

NEW YORK, N.Y. — Feb. 26, 2025 — First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, LLC, provided a $30 million credit facility to Conexwest, a leading provider of new, used, and refurbished shipping containers.

Founded in 2014 and headquartered in Lathrop, California, Conexwest’s fleet of shipping containers supports a multitude of industries attracting customers nationwide. A majority of the company’s container rental fleet and inventory operate from its headquarters site and three additional depots in Oakland and Fontana, California, and Dallas, Texas.

“As we continue to grow Conexwest, we remain focused on providing our customers with leading solutions for shipping containers supporting a range of business needs,” said Vitali Barkouski, President of Conexwest. “We appreciated CIT Northbridge’s expertise in arranging this financing that will better position us to pursue our growth objectives.”

“Conexwest has a proven track record of delivering high-quality container solutions to companies with diverse business needs in a competitive market,” said Neal Legan, who leads the team that advises CIT Northbridge. “This financing reinforces our commitment to our customers to supporting their path for success.”

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 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 more than 500 branches; 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. First Citizens Bank, Member FDIC. Discover more at firstcitizens.com.

MEDIA RELATIONS:

Ella Bristow
(212) 461-5322
Ella.bristow@firstcitizens.com