June 15, 2021
ATLANTA — June 15, 2021 — Wingspire Capital LLC (“Wingspire”) has provided a $40 million senior secured revolving credit facility to Corsicana Mattress Company as the mattress manufacturer repositions itself for growth.
The revolver is part of a broader recapitalization that included the acquisition of Symbol Mattress, which allows Corsicana to further diversify its product offering. Corsicana designs and produces handcrafted mattresses in the United States under brand names including American Bedding, Renue and Nightsbridge.
“Wingspire Capital is pleased to support Corsicana’s growth as the company gains new product lines and works hard to meet the growing demand in the industry,” said Will Bence, Managing Director at Wingspire Capital.
Corsicana is a portfolio company of Long Point Capital, a private investment firm that invests in founder, family and management owned companies.
“We enjoyed working with an innovative partner like Wingspire Capital on a flexible and creative capital structure that meets the needs of all stakeholders and positions Corsicana for continued growth and success,” said Eric Von Stroh, Partner at Long Point Capital.
Leading middle market investment bank Capstone Partners advised Corsicana on the transaction.
About Wingspire Capital:
Wingspire Capital is a middle market-focused, specialty finance firm that provides asset-backed credit facilities to businesses across all industries. Wingspire Capital’s depth of experience across all debt products and industries enables the firm to be creative and flexible in their 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 has offices in Atlanta, Boston, Chicago, and New York.
Additional information about Wingspire Capital can be found at www.wingspirecapital.com.
Wingspire Capital 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, an alternative asset manager with approximately $52.5 billion of assets under management as of March 31, 2021.