ATLANTA — MAY 17, 2021 — Wingspire Capital announced today that it has provided a $95 million senior secured credit facility to Fox Racing, the global leader in motocross and mountain biking protective gear and apparel. The credit facility consists of a $35 million revolving line of credit and a $60 million term loan.
Fox Racing, a portfolio company of Altamont Capital Partners, used the loan proceeds to refinance its prior senior credit facility and to support its immediate and long term growth initiatives. Prior to and throughout the pandemic, Fox Racing has experienced growing demand around the world for its protective moto gear, apparel, and accessories as people continue to spend more time outdoors and increase spending on sports and fitness activities.
“Wingspire is proud to have delivered this financing solution for Fox Racing and Altamont Capital Partners. We founded Wingspire on the cornerstones of creativity, practicality and responsiveness, all of which were on display as our team worked effectively with the management team of Fox to close this complicated financing within a demanding timeframe,” said David Wisen, CEO of Wingspire.
Pete Meyerdirk from Altamont Capital Partners added: “Piper Sandler ran a competitive process in identifying the best financing solutions for the needs of our portfolio company, Fox Racing. We selected Wingspire because they designed a detailed strategy to accomplish the financial objectives we were looking for. Their approach, combined with their ability to provide a one-stop financing solution gave us the confidence we were looking for in that they would deliver the credit facility we were looking for within a condensed timeline.”
ABOUT WINGSPIRE CAPITAL
Wingspire Capital is a specialty finance firm that provides asset-backed credit facilities to middle market businesses across all industries. Wingspire Capital’s creativity, flexibility and depth of experience across numerous debt products and industries make it a lender of choice for companies in all stages of growth. The firm’s commitments for credit facilities range in complexity and scope, with sizes from $20 to $200 million.
Additional information about Wingspire Capital can be found at www.wingspirecapital.com.
Wingspire is a portfolio company of Owl Rock Capital Corporation (NYSE: ORCC), which is externally managed by Owl Rock Capital Advisors LLC, an SEC-registered investment adviser. Owl Rock Capital Advisors LLC, together with its affiliates, is a New York based direct lending platform with approximately $27.8 billion of assets under management as of March 31, 2021.
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $2.5 billion of assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries, including consumer, restaurants & multi-unit, financial services, healthcare, industrials, and business services.