Wingspire Capital provided a $50 million senior secured revolving credit facility to Vantage Mobility International, a manufacturer of wheelchair accessible vans with in-floor ramp systems.
Vantage Mobility International is using the proceeds to finance its inventory of vans purchased from original equipment manufacturers and fund its normal working capital cycle.
“Wingspire is proud to support VMI, who, with genuine care for the disabled community, manufactures products that provide their customers with innovative leading-edge mobility products,” John Rosin, president and COO of Wingspire Capital, said.
Vantage Mobility International is a Phoenix-based portfolio company of middle market private equity firm Nautic Partners.
“We welcome the opportunity to partner with Wingspire and lean on their creativity and nimbleness so VMI has the strategic flexibility it needs to take its business to the next level,” Nicholas Vidnovic, vice president at Nautic, said.
Wingspire Capital provides senior secured asset-based loans, credit lines and term loans ranging from $20 million to $200 million to mid-sized public and private businesses in the manufacturing, distribution, retail, logistics, automotive, energy, consumer products, hospitality, lender finance and business services industries.
