Wingspire Capital provided a senior credit facility to Sunland Asphalt & Construction as part of a refinancing that includes growth capital for the Phoenix-based provider of asphalt paving maintenance and repair services.
Wingspire Capital specifically provided a revolver and term loan as part of a transaction agented by TCW Asset Management Company. Sunland is using the proceeds to replace a previous debt facility and to support future expansion.
Founded in 1979, Sunland began as an asphalt maintenance company but has since grown to provide a range of related services, including asphalt repairs, crack sealing, sealcoating, chip sealing, milling, pulverizing, reconstruction, paving, striping, earthwork and grading, as well as utility adjustments, underground wet utilities, structures and concrete. The company has offices in Arizona, Colorado, Nevada, New Mexico and Texas.