ATLANTA – Nov. 16, 2022 — Wingspire Capital LLC (“Wingspire”) provided a $40 million senior secured revolving line of credit to Corsicana Mattress Company as part of its exit from bankruptcy.
It was the third financing transaction Wingspire Capital has provided to Corsicana, following an initial senior secured revolving credit facility in mid-2021 and a $40 million debtor-in-possession facility in June of 2022.
“Wingspire Capital was pleased to serve as a trusted source of capital throughout Corsicana’s restructuring as we brought greater certainty throughout the process,” said Chris Coutu, Senior Managing Director and Head of Portfolio at Wingspire Capital.
“The restructuring positions Corsicana as a stronger company that can now build on its foundation as the nation’s largest private retail mattress manufacturer,” said Eric Rhea, CEO of Corsicana. “With a redefined footprint within core distribution channels, we are positioned to deliver quality products at compelling prices coast-to-coast for many years to come.”
Wingspire offers innovative financing that creatively joins multiple Wingspire lending products in a single transaction.
ABOUT WINGSPIRE CAPITAL
Wingspire Capital is a middle market-focused, asset-oriented specialty finance firm that provides senior credit facilities to businesses across all industries. Our depth of experience across all debt products and industries enables our firm to be creative and flexible in our approach, and the lender of choice for companies across all stages of growth and complexity. The commitments for our credit facilities range in size from $20 to $200 million.
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 is a division of Blue Owl Capital (NYSE: OWL), a global alternative asset manager with approximately $132.1 billion of assets under management as of September 30, 2022. For further information about Atlanta-based Wingspire, visit wingspirecapital.com.