The CIT Group, Inc. Mergers and Acquisitions


The CIT Group, Inc.

505 Fifth Avenue
New York NY 10017
United States
Tel:1/212 771 0505
URL: http://www.cit.com
Formerly known as:
Tyco Capital Corp
Primary Symbol & Exchange:
CITGQ - Common Stock - Pink Sheets
Industry:
Financial Services
The CIT Group, Inc. Company Snapshot

The CIT Group, Inc. Deal Timeline


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Acquisitions > 100 M$ 10 to 100 M$ < 10M$ Stakes Divestitures

The CIT Group, Inc. M&A History


CIT Group Inc seeking buyer for CIT Group Inc-Leasing Op CIT Group Inc seeking buyer for CIT Group Inc-Leasing OpOct 09, 2009

US - In # October ####, CIT Group Inc announced that it was seeking a buyer for its Aerospace Leasing Operations, a provider of jet leasing services.

CIT Group Inc is rumored to be planning to acquire Indymac Federal Bank CIT Group Inc is rumored to be planning to acquire  Indymac Federal BankSep 29, 2009

US - In September ####, CIT Group Inc was rumored to be planning to merge with Indymac Federal Bank, a bank and investment holding company.

US Department of the Treasury acquires a minority stake in CIT Group Inc (pending) US Department of the Treasury acquires a minority stake in CIT Group Inc (pending)Dec 23, 2008

US - State-owned United States Department of Treasury agreed to acquire warrants convertible into an undisclosed minority stake in CIT Group Inc, a provider of financing services, in a privately negotiated transactions.

CIT Group Inc seeking buyer for CIT Group Inc-Rail Car Leasing CIT Group Inc seeking buyer for CIT Group Inc-Rail Car LeasingAug 08, 2008

US - In August ####, CIT Group Inc announced that it was seeking a buyer for its rail car leasing business unit, a provider of railroad car rental services.

Vanderbilt Mortgage & Finance acquires CIT Group Inc-Manufactured from CIT Group Inc Vanderbilt Mortgage & Finance acquires CIT Group Inc-Manufactured from CIT Group IncJul 14, 2008

US - Vanderbilt Mortgage & Finance Inc, a unit of Berkshire Hathaway Inc's Clayton Homes Inc subsidiary, acquired the manufactured housing portfolio of CIT Group Inc (CIT), a provider of diversified finance services, for an estimated $### mil. Concurrently, Lone Star

Lone Star Funds acquires CIT Group Inc-Home Lending Bus from CIT Group Inc Lone Star Funds acquires CIT Group Inc-Home Lending Bus from CIT Group IncJul 08, 2008

US - Lone Star Funds acquired the home lending business of CIT Group Inc (CIT), a provider of diversified finance services, for $#.# bil. Concurrently, Vanderbilt Mortgage & Finance Inc acquired the manufactured housing portfolio of CIT.

Brandes Investment Partners LP acquires a minority stake in CIT Group Inc Brandes Investment Partners LP acquires a minority stake in CIT Group IncMay 09, 2008

US - Brandes Investment Partners LP raised its stake to ##.###% from #.###%, by acquiring an #.##% stake or ##.## mil common shares in, in CIT Group Inc, a provider of financing services, in a privately negotiated transaction.

CIT Group Inc seeking buyer for CIT Group Inc-Non-Core Asts CIT Group Inc seeking buyer for CIT Group Inc-Non-Core AstsMar 21, 2008

US - In March ####, CIT Group Inc (CG), a provider of financing services, announced that it was seeking a buyer for its non-core assets and businesses. The transaction was to include CG's home lending and student lending units.

Macquarie Finl Svcs Group acquires CIT Group Inc-Technology from CIT Group Inc (pending) Macquarie Finl Svcs Group acquires CIT Group Inc-Technology from CIT Group Inc (pending)Nov 20, 2007

US - Macquarie Financial Services Group, a unit of Macquarie Bank Ltd, planned to acquire the technology equipment leasing business of CIT Group Inc, a provider of financing services. Terms were not disclosed.

Undisclosed Acquiror acquires CIT Grp-Non Performing Loan from CIT Group Inc Undisclosed Acquiror acquires CIT Grp-Non Performing Loan from CIT Group IncOct 17, 2007

US - CIT Group Inc, a provider of diversified finance services, divested $### mil worth of non performing and delinquent loans portfolio, to an undisclosed acquiror, for ##.## mil based on the #% standard capitalization rate. Originally, CIT was seeking

Wells Fargo & Co,California acquires CIT Constr from CIT Group Inc Wells Fargo & Co,California acquires CIT Constr from CIT Group IncAug 20, 2007

US - Wells Fargo & Co, San Francisco, California, agreed to acquired CIT Construction, a provider commercial financing services to the construction industry, from CIT Group. Terms were not disclosed.

CIT Group Inc acquires Edgeview Partners CIT Group Inc acquires Edgeview PartnersJul 23, 2007

US - CIT Group Inc acquired Edgeview Partners, an investment bank. Terms were not disclosed. The transaction was subject to regulatory approval.

CIT Group Inc acquires Citigroup Inc-US Business Tech from Citigroup Inc CIT Group Inc acquires Citigroup Inc-US Business Tech from Citigroup IncMay 16, 2007

US - CIT Group Inc acquired the business technology finance unit of Citigroup Inc, a provider of financial services and a holding company.

CIT Canada acquires CCFL Mezzanine Partners CIT Canada acquires CCFL Mezzanine PartnersJan 18, 2007

CANADA - CIT Canada, a unit of CIT Group Inc, acquired CCFL Mezzanine Partners, a provider of financing and advisory services.

CIT Group Inc acquires Barclays Bank PLC-Vendor from Barclays PLC CIT Group Inc acquires Barclays Bank PLC-Vendor from Barclays PLCJan 02, 2007

UK - CIT Group Inc of the US acquired the # vendor finance businesses of Barclays Asset & Sales Finance, a provider of financing services, a unit of Barclays Bank PLC. Terms were not disclosed.

CIT Group Inc acquires ICX Corp-Equipment Finance from ICX Corp CIT Group Inc acquires ICX Corp-Equipment Finance from ICX CorpDec 31, 2006

US - CIT Group Inc acquired the equipment finance business of ICX Corp, a provider of data processing, telephone and capital equipment rental services.

CIT Rail acquires Bombardier Capital Rail Inc from Bombardier Inc CIT Rail acquires Bombardier Capital Rail Inc from Bombardier IncOct 02, 2006

US - CIT Rail, a unit of CIT Group Inc, acquired Bombardier Capital Rail Inc, a provider of rail-car leasing services, from Bombardier Inc.

Mueller Weingarten AG acquires Bliss Clearing Niagara Inc from CIT Group Inc Mueller Weingarten AG acquires Bliss Clearing Niagara Inc from CIT Group IncSep 12, 2006

US - Muller Weingarten AG acquired Bliss Clearing Niagara Inc, a provider of repair and rebuilding services of presses.

Investor Group acquires Viking Plastics Corp from CIT Group Inc through a leveraged buyout Investor Group acquires Viking Plastics Corp from CIT Group Inc through a leveraged buyoutAug 04, 2006

US - A management-led investor group, acquired Viking Plastics Corp, a manufacturer of plastic products, from Omega Polymer Technologies Inc, a unit of CIT Group Inc's CIT Group/Venture Capital subsidiary, for $#.# mil, in a leveraged buyout transaction.

CIT Group Inc acquires Enterprise Finance Europe GmbH from Bank of Ireland PLC CIT Group Inc acquires Enterprise Finance Europe GmbH from Bank of Ireland PLCApr 27, 2006

GERMANY - CIT Group Inc of the US, acquired Enterprise Finance Europe GmbH, a Frankfurt-based provider of investment management services, from Bank of Ireland PLC.

The CIT Group, Inc. M&A Summary


The CIT Group, Inc. has made 31 acquisitions while taking stakes in 0 companies. The CIT Group, Inc. has 23 divestitures during this period.
YearAcquisitionsStakesDivestitures
2008003
2007402
2006302
2005703
2004203
2003100
2002001
2001001
2000100
1999302
1998002
1997001
1996201
1995001
1994400
1993300
1992001
1991100
Total31023

Other Recent M&A in the Financial Services industry