BRIDGEPORT, Conn., Jan. 26, 2022 /PRNewswire/ -- People's
United Bank, N.A. (NASDAQ: PBCT), announced that it served as Lead
Arranger and Administrative agent for a credit facility for
Atlantis Management Group, a Mt. Vernon,
New York headquartered motor fuel distributor and owner and
operator of a large network of gasoline service stations, quick
serve restaurants and convenience store sites. The facility will be
used to support the continued growth of the company, including the
funding of new acquisitions.
"We are thrilled to continue and expand our longstanding
relationship with Atlantis to provide them with additional capital
and expertise in support of their efforts to expand their company,"
said Kevin Dolan, SVP, Commercial
Banking, People's United Bank. Added Ken
Jamison, SVP of Loan Syndications at People's United:
"Companies demand a lending partner who can deliver flexible,
industry-focused solutions and a personalized approach to service,
and we look forward to supporting future growth plans for Atlantis
Management."
"The People's United team understands the unique elements of our
industry which makes them an attractive lending partner as we look
to expand our portfolio in the Northeast," said Tumay Basaranlar, CEO, Atlantis Management Group
LLC. "Atlantis values loyalty and trust in all that it does, and we
found that People's United Bank shares that same mindset."
People's United's Commercial Banking and Capital Markets
Divisions are comprised of experienced in-market Bankers across the
Northeast and Mid-Atlantic who provide local, market-based
solutions to organizations across industries. The teams offer
Commercial Banking solutions, including Treasury Management, Wealth
Management, and Derivatives as well as funds for acquisitions,
construction, equipment, working capital needs or debt
restructuring.
About People's United Bank, N.A.
People's United Bank, N.A. is a subsidiary of People's United
Financial, Inc., a diversified, community-focused financial
services company headquartered in the Northeast with approximately
$65 billion in assets. Founded in
1842, People's United Bank offers commercial and retail banking
through a network of over 400 retail locations in Connecticut, New
York, Massachusetts,
Vermont, New Hampshire and Maine, as well as wealth management solutions.
The company also provides specialized commercial lending services
to customers nationwide. Visit Peoples.com for more
information.
About Atlantis Management Group, LLC
Atlantis Management Group (AMG) is one of the leading gasoline
service station and convenience store operators, branded and
unbranded motor fuel distributors and wholesalers in the Northeast.
AMG has a skilled and dedicated team of executives with decades of
combined experience in the petroleum and C-store industry, working
every day to serve its customers. In addition to its Mt. Vernon headquarters, the company maintains
a regional office in Kensington,
Connecticut and markets motor fuel and convenience store
products in New York, New Jersey, Connecticut and Massachusetts. For more information on
Atlantis Management Group, visit atlantismgmt.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/peoples-united-bank-provides-mortgage-financing-for-atlantis-management-group-301468745.html
SOURCE People's United Bank