ATLANTA — DEC. 8, 2020 — Wingspire Capital LLC (“Wingspire”) has provided a $30 million senior secured credit facility to a leading manufacturer and distributor of specialty concrete production and handling equipment that are integral in the construction of large buildings, stadiums, roads, bridges and other infrastructure.
The borrower is using the proceeds of the credit facility to fund day-to-day capital needs for growth and optimizing cash flow and management of its finances, which requires greater flexibility than its previous lender provided.
“We are pleased to provide a more creative and flexible capital solution for a company that plays a vital role in building, repairing and maintaining our nation’s infrastructure as well as new commercial construction projects,” said Will Bence, Director at Wingspire Capital.
ABOUT WINGSPIRE CAPITAL
Wingspire Capital focuses on the upper tier of the senior secured asset-based lending market by providing revolving credit lines and term loans ranging from $20 to $200 million. The Atlanta-based company serves mid-sized public and private businesses across numerous industries including manufacturing, distribution, retail, logistics, automotive, energy, consumer products, hospitality, lender finance and business services. Wingspire’s loans are secured by assets such as accounts receivable, inventory, equipment, real estate and intellectual property. Wingspire is a portfolio company of Owl Rock Capital Corporation (NYSE: ORCC). ORCC 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 $20 billion of assets under management as of September 30, 2020. For more information about Wingspire, please visit wingspirecapital.com.