Raleigh, N.C. — August 17, 2026 — First Citizens Bank announced today that its Sponsor Finance group provided a senior debt facility to Legacy Tow Group (“Legacy”), a portfolio company of Appreciation Capital and Gemini Investors, to support the acquisition of AATR Orlando, provide growth capital and recapitalize the company.

Headquartered in Charleston, South Carolina, Legacy Tow Group is a leading provider of heavy-duty and light towing, recovery, and specialized transportation services focused on commercial and state and local government customers throughout the Southeast. The company operates a contiguous service footprint across major interstate highways (I-95, I-10 and I-4) in South Carolina, Georgia, and North Florida, and is expanding into the Orlando market through this acquisition. The partnership with AATR marks Legacy’s sixth acquisition since the platform’s launch in April 2023.

“This financing enables us to continue expanding our platform and advancing our vision of building a premier commercial towing and transport services provider across the Southeastern United States,” said Daniel Cornell, Chief Executive Officer of Legacy Tow Group. “We value the expertise and partnership of the First Citizens Sponsor Finance team and appreciate their support as we pursue our long-term growth objectives.”

“Legacy Tow Group has established itself as a leader in the commercial towing and transportation sector, with a strong reputation for delivering high-quality service to its customers,” said Kenneth Caffrey, Managing Director in the Sponsor Finance group at First Citizens Bank. “We were pleased to leverage our industry experience and work closely with the Legacy management team to provide a tailored financing solution to support the company’s continued growth and strategic expansion.”

First Citizens Sponsor Finance provides senior financing to middle market private equity firms and their portfolio companies across a variety of industries. The bank supports private equity transactions including leveraged buyouts, add-on acquisitions, growth capital and recapitalizations.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services with branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $225 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

Media Contact
Katie Ellis
Katie.Ellis@firstcitizens.com