Wingspire Capital provided a $40 million senior secured revolving line of credit to Corsicana Mattress Company as part of its exit from bankruptcy.
It was the third financing transaction Wingspire Capital has provided to Corsicana, following an initial senior secured revolving credit facility in mid-2021 and a $40 million debtor-in-possession facility in June of 2022.
“Wingspire Capital was pleased to serve as a trusted source of capital throughout Corsicana’s restructuring as we brought greater certainty throughout the process,” Chris Coutu, senior managing director and head of portfolio at Wingspire Capital, said.
“The restructuring positions Corsicana as a stronger company that can now build on its foundation as the nation’s largest private retail mattress manufacturer,” Eric Rhea, CEO of Corsicana, said. “With a redefined footprint within core distribution channels, we are positioned to deliver quality products at compelling prices coast-to-coast for many years to come.”
