Daily News: June 2, 2014

Prospect Financing Supports Fleetwash Acquisition by DFW

Prospect Capital announced it has provided a $65 million first-lien floating-rate credit facility to support the recapitalization of Fleetwash and affiliates by DFW Capital Partners and Fleetwash’s senior management team.

Fairfield, NJ-based Fleetwash is a national provider of mobile vehicle fleet and mobile facility cleaning services.

“This is our second transaction with Prospect, and we enjoyed working with the Prospect team on the Fleetwash opportunity,” said Keith Pennell, managing partner at DFW Capital. “Prospect provided a responsive and thoughtful financing package well-tailored to the unique needs of the business, which was a valuable contribution to the success of this transaction.”