Equipment Finance News CIT funds ediscovery expansion Published: 9th August 2016 Share Leasing and commercial lending specialist CIT has announced that CIT communications and technology finance has provided a $23 million senior secured credit facility to Lighthouse eDiscovery, a provider of technology-enabled ediscovery services, to enable it to expand its reach to the UK. Lighthouse is a portfolio company of New York-based private equity firm Spire Capital. The financing will support a recapitalization of the company and the growth of Lighthouse’s UK operations. Terms of the transaction were not disclosed. Brian McManus, chief executive officer of Lighthouse eDiscovery, said: “Ediscovery is the process by which electronic data is collected, secured, and searched prior to being submitted as evidence in litigation or by governmental request. We assist clients in their ediscovery process by minimizing the amount of digital files required to be reviewed prior to evidence submission. “This financing will help advance our financial objectives and facilitate the growth of our UK office, a key part of our strategy. CIT’s experience in financing technology companies proved helpful throughout the transaction process, and we look forward to working with CIT again,” he added. Pat Sweet Correspondent - Finance Connect Sign up to our newsletter Featured Stories NewsLeaseurope’s Richard Knubben: Resilience will define European leasing in a changing market NewsDeposit Return Scheme: Financing reverse vending infrastructure NewsDutch equipment leasing market returns to growth in Q2 Equipment Finance
