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Wingspire Capital Supplies $30MM Senior Secured Financing to Leading After-Market Auto Parts Distributor

September 30, 2020, 09:10 AM
Filed Under: Automotive

Wingspire Capital Holdings announced the funding of a $30 million senior secured working capital revolver to a leading distributor in after-market auto parts, consumer electronics and personal protective equipment.

The borrower will use the funding to accelerate a turnaround plan that includes reducing expenses, eliminating slow-moving excess inventory and pursuing new customers with sought-after PPE products such as masks and thermometers.

“Our client has been doing all the right things in this unpredictable economy — executing on the fundamentals of the business and focusing on customer service, contribution margins and cash flow generation,” said James Garlick, Managing Director and Head of Originations at Wingspire Capital.

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