CIT Serves as Sole Lead Arranger in $220 Million Financing

  CIT Serves as Sole Lead Arranger in $220 Million Financing

   Financing Allows for Acquisition of TrustHouse Services by Elior SCA and
                        Charterhouse Capital Partners

Business Wire

NEW YORK & LONDON -- April 24, 2013

CIT Group Inc.(NYSE: CIT), a leading provider of financing and
advisory services to small businesses and middle market companies, today
announced that it arranged a $220 million senior secured credit facility to
help finance the acquisition of TrustHouse Services Group by Elior SCA and
Charterhouse Capital Partners. TrustHouse Services is a national U.S. provider
of contract food services to the Healthcare, Education and Corrections
sectors. Based in Paris, France, Elior is a premier global provider of
contract food services and food concessions. Charterhouse Capital Partners is
a leading UK- based private equity firm.

CIT Corporate Finance served as Sole Lead Arranger and Administrative Agent
for the transaction. Financing was provided by CIT Bank, the U.S. commercial
bank subsidiary of CIT. Terms of the transaction were not disclosed.

“This transaction demonstrates the commitment CIT has to providing
comprehensive financial solutions to private equity firms as they complete
acquisitions,” said Eric Toizer, Managing Director of CIT Sponsor Finance. “We
are pleased to continue our relationship with Mike Bailey and his world class
management team.”

Mike Bailey, CEO at TrustHouse Services, said, “Our long term relationship
with CIT facilitated the smooth and efficient closing of this transaction. CIT
was able to arrange flexible financing that will allow us to partner with
Elior, as it expands into the U.S. market.”

Gilles Cojan, Director at Elior, said, "TrustHouse provides a compelling value
proposition and is well positioned to capitalize on market fragmentation. With
its national scale, tailored solutions and first class customer service, we
believe this acquisition will allow us to build market share and expand our
global footprint in the food services sector.”

Jamie Arnell, Partner of Charterhouse, said, "We are pleased to continue our
growth strategy for Elior as it partners with TrustHouse to create a
world-class food services business. We selected CIT to lead the financing of
this transaction because of their relationship with TrustHouse Services and
their expertise in underwriting and syndicating senior loans in the U.S.


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About TrustHouse Services

TrustHouse Services Group is a leader in the Healthcare, Education, and
Corrections-focused food services space and manages over 675 client accounts
across more than 45 states. TrustHouse is headquartered in Charlotte, NC, and
was founded by Michael J. Bailey.

About Elior SCA

Founded in 1991, Elior is a market leading catering and facilities management
group with operations throughout Western Europe, USA, Mexico and Latin
America. Elior is the #4 contract caterer and the #3 concession caterer
globally, with €4.48 billion revenue and €359 million EBITDA for its fiscal
year ended 30 September 2012. Elior provides personalized catering and service
solutions within the Education, Business & Industry and Healthcare & Seniors
sectors as well in Leisure, Culture and Travel, as well as cleaning services
and facilities management. Elior is owned by Charterhouse Capital Partners and
operates over 14,350 restaurants and outlets around the world, serving 3
million customers daily in 14 countries.

Charterhouse Capital Partners

Charterhouse is a leading private equity investment firm focused on leveraged
buyouts of established and substantial businesses. Charterhouse focuses on a
variety of industrial and commercial sectors. With over 135 transactions,
worth in excess of €50bn in transaction value, and with 86% of those
investments realized, the firm’s track record and experience combine to make
them one of the most successful private equity firms in Europe.

About CIT Corporate Finance

CIT Corporate Finance provides lending, leasing and other financial and
advisory services to the small business and middle market sectors, with a
focus on specific industries, including: Chemicals, Commercial Real Estate,
Communications, Energy, Entertainment, Gaming, Healthcare, Industrials,
Information Services & Technology, Restaurants, Retail, and Sports & Media.

About CIT Bank

Founded in 2000, CIT Bank (Member FDIC) 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 rail sectors. Through its online bank,, CIT Bank offers a suite of savings options designed to help
customers achieve a range of financial goals. It is regulated by the Federal
Deposit Insurance Corporation and the Utah Department of Financial
Institutions. As of March 31, 2013, it had $10.6 billion of deposits and $13.3
billion of assets. CIT Bank makes loans without regard to race, color,
religion, national origin, sex, handicap, or familial status.

About CIT

Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $35 
billion in financing and leasing assets. A member of the Fortune 500, it
provides financing and leasing capital and advisory services to its clients
and their customers across more than 30 industries. CIT maintains leadership
positions in small business and middle market lending, factoring, retail
finance, aerospace, equipment and rail leasing, and vendor finance. CIT also
operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through
its online bank, offers a suite of savings options designed to
help customers achieve a range of financial goals.


C. Curtis Ritter, 973-740-5390
Director of Corporate Communications
Matt Klein, 973-597-2020
Vice President, Media Relations
Ken Brause, 212-771-9650
Executive Vice President
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