ATLANTA – Aug. 1, 2023 — Wingspire Capital LLC (“Wingspire”) provided a senior credit facility to Sunland Asphalt & Construction, LLC (“Sunland”) as part of a refinancing that includes growth capital for the provider of asphalt paving maintenance and repair services.
Wingspire provided a revolver and term loan as part of a transaction agented by TCW Asset Management Company LLC (“TCW Private Credit”). Sunland is using the proceeds to replace a previous debt facility, and to support future expansion.
Founded in 1979, Sunland is an asphalt paving maintenance and repair provider based out of Phoenix, Arizona. Sunland began as an asphalt maintenance company but has since grown to become a full-service provider, providing a wide range of related services, including asphalt repairs, crack sealing, sealcoating, chip seal, milling, pulverizing, reconstruction, paving, striping, earthwork and grading, as well as concrete, utility adjustments, underground wet utilities, structures and concrete. Sunland has offices in Arizona, Colorado, Nevada, New Mexico and Texas.
ABOUT WINGSPIRE CAPITAL
Wingspire Capital offers one-stop solutions of up to $200 million for middle market companies, including revolving lines of credit, cash flow loans, fixed asset term loans, first-out term loans & revolvers, equipment leases, and sale leasebacks. Industries financed include business services, consumer products, e-commerce & retail, food & beverage, manufacturing, distribution, transportation & logistics, automotive, technology applications and financial services.
Wingspire Capital is a portfolio company of Blue Owl Capital Corporation (NYSE: OBDC). OBDC is externally managed by Blue Owl Credit Advisors LLC, an indirect affiliate of Blue Owl Capital, Inc. (NYSE: OWL). Blue Owl Capital, Inc. is a global alternative asset manager with $144.4 billion of assets under management as of March 31, 2023. For further information about Wingspire Capital, visit wingspirecapital.com.
ABOUT TCW PRIVATE CREDIT
TCW Private Credit specializes in providing senior-secured loans to U.S.-based middle market borrowers. Since 2001, the group has provided private credit solutions to borrowers across a wide range of industries, partnering with business owners, management teams, financial intermediaries, and asset-based lenders to provide customized financing solutions for a variety of needs. TCW Private Credit is a unit of TCW, a leading global asset management firm with a broad range of products across fixed income, equities, emerging markets and alternative investments. With half a century of investment experience, TCW today manages approximately $205 billion in client assets. Through the MetWest Funds and TCW Funds families, TCW manages one of the largest mutual fund complexes in the U.S. TCW’s clients include many of the world’s largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit www.tcw.com.