Wingspire Capital funded a $60 million senior secured working capital facility for Franchise Group, an owner and operator of franchised retail stores.
The funds were used to refinance Franchise Group’s existing ABL credit facility and also will enable the company to support its portfolio of retail franchises, including Buddy’s Home Furnishings, The Vitamin Shoppe, Liberty Tax Service and American Freight.
“Wingspire is excited to work with a great management team that was not only able to manage their cash flows and liquidity through the pandemic, but also grow them due to high demand for their essential and durable goods that are attractively priced,” James Garlick, managing director and head of originations at Wingspire Capital, said.
