Franklin Square Capital Partners announced the origination of a new $150 million senior secured loan to Healthcare Staffing Services (HSS).
Denver-based HSS is a healthcare staffing firm that specializes in providing nationwide “rapid response” nurse staffing services to healthcare facilities that have urgent needs for qualified nurses.
The financing was provided by FS Investment Corporation FSIC, Investment Corporation II and FS Investment Corporation III, BDCs managed by affiliates of Franklin Square and sub-advised by GSO / Blackstone Debt Funds Management, an affiliate of GSO Capital Partners.
The senior secured loan facilitated a recapitalization of the company through which Thomas H. Lee Partners, a private equity investment firm, acquired a majority equity stake in HSS.
“This financing is a great example of our strategy to focus on investments at the top of the capital structure of leading companies. The scale of our platform enables speed and surety of execution, which we believe serves as a competitive advantage and attracts both borrowers and financial sponsors,” said Michael C. Forman, chairman and CEO of FSIC, FSIC II and FSIC III.