Wingspire Capital provided a $50 million senior secured revolver to a sponsor-backed manufacturer of expandable polystyrene products used in construction, packaging, food service and consumer products in North America.
The $50 million revolver was part of a larger transaction that included a $167 million term loan. Proceeds are being used to refinance existing debt and restructure the balance sheet at more attractive terms.
“Wingspire Capital was able to offer speed and certainty of execution, which enabled the company and sponsor to meet their closing timelines for this transaction,” Ryan Jones, managing director at Wingspire Capital, said. “The enhanced liquidity from this financing allows the company to focus on operating and growing its business while continuing to serve its customers across North America.”
