Add-on Acquisition • Financial Services

CIT Bank Acquires Direct Capital

On August 4, 2014, CIT Bank acquired financial services company Direct Capital

Acquisition Context

This is CIT Bank’s 1st transaction in the Financial Services sector.
This is CIT Bank’s 1st transaction in the United States.
This is CIT Bank’s 1st transaction in New Hampshire.

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M&A Deal Summary
Date	August 4, 2014
Target	Direct Capital
Sector	Financial Services
Buyer(s)	CIT Bank
Deal Type	Add-on Acquisition
Advisor(s)	Raymond James - Investment Banking (Financial)

Target Company

Direct Capital

Portsmouth, New Hampshire, United States

Direct Capital is a financial technology company that delivers financial solutions for small and medium sized businesses, franchisors, and equipment and technology sellers.

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Buyer Overview 1

Buyer

CIT Bank

Salt Lake City, Utah, United States

Category	Company
Founded	2000
Sector	Financial Services

DESCRIPTION

CIT Bank (Member FDIC, Equal Housing Lender) is the U.S. commercial bank subsidiary of CIT Group Inc. (NYSE:CIT). It provides lending and leasing to the small business, middle market and transportation sectors. CIT Bank (BankOnCIT.com) offers a variety of savings options designed to help customers achieve their financial goals.

Deal Context for Buyer	#
Overall	1 of 1
Sector: Financial Services	1 of 1
Type: Add-on Acquisition	1 of 1
State: New Hampshire	1 of 1
Country: United States	1 of 1
Year: 2014	1 of 1

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