Wingspire Capital 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 for Corsicana that includes the acquisition of Symbol Mattress. 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,” Will Bence, managing director at Wingspire Capital, said.
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,” Eric Von Stroh, a partner at Long Point Capital, said.
Middle-market investment bank Capstone Partners advised Corsicana on the transaction.
