NEW YORK, April 28, 2022 /PRNewswire/ -- CIT Northbridge Credit, as advised by CIT Asset Management LLC, has served as sole lead arranger on a $65 million credit facility for Hello Bello, a manufacturer and marketer of baby, child and adult care products.
"This financing will provide additional support as we continue to grow our market share by delivering affordable, high-quality essentials to more families," said Jennifer Pullen, co-founder of Hello Bello. "We appreciate CIT Northbridge's professionalism and expertise throughout the financing process."
Launched in 2019 by co-founders Kristen Bell and Dax Shepard, Hello Bello is a parenting platform providing premium and affordable products designed to eliminate the choice many parents have to make between what's best for their family or best for their budget. Hello Bello's products are all carefully crafted with children, parents and the planet in mind, and available at hellobello.com with bundling and subscription options, as well as at retailers including Walmart and Target nationwide.
"Hello Bello's cost-effective pricing helps bring premium, environmentally friendly products into the homes of everyday consumers," said Neal Legan, who leads CIT Northbridge. "We're pleased to provide this financing to support Hello Bello as they continue to deliver on their mission."
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 CIT 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.
CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets. The company's commercial banking segment brings a wide array of best-in-class lending, leasing and banking services to middle-market companies and small businesses from coast to coast. First Citizens also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. Discover more at cit.com/firstcitizens.
About Hello Bello:
Hello Bello™, launched in February 2019, makes premium and affordable family products designed to eliminate the choice many parents have to make – deciding between what's best for their kids and what's best for their budget. From extremely adorable and soft diapers made with sustainably harvested fluff pulp and premium body care with organic botanical extract blends to mineral sunscreens, organic multivitamins, refillable cleaners, and more, Hello Bello's products give parents comfort about what they're putting on their baby and bringing into their home. Hello Bello was co-founded by Kristen Bell, Dax Shepard, Sean Kane, Jay McGraw and Jennifer Pullen. For more information, please visit hellobello.com or follow @hellobello on Facebook, Instagram and Twitter and @myhellobello on Pinterest.
SOURCE CIT, a division of First Citizens Bank