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Wingspire Capital Provides $46MM Senior Secured Credit Facility to Worldwise

April 07, 2021, 08:09 AM
Filed Under: Consumer Products

Wingspire Capital provided a $46 million senior secured credit facility to Worldwise, Inc., a leading designer and supplier of pet products.

The transaction includes a $30 million revolving line of credit and a $16 million term loan to replace the previous credit facilities and enable Worldwise to meet the growing demand for cat and dog toys, beds, carriers and other pet products as the pet category continues to grow both in the U.S. and worldwide.

“Wingspire’s flexible and innovative approach puts Worldwise in a stronger position to continue to capitalize on its business strategy in a dynamic and growing market,” said William Bence, Managing Director at Wingspire Capital.

There has been a steady rise in pet adoptions since the coronavirus pandemic began, and Worldwise is benefiting from greater interest in environmentally responsible pet products.

“Wingspire did a very professional and creative financing for Worldwise. They took the time to learn our business in a very short time frame and provided a flexible structure that supports our accelerated future success,” said David Blatte, Chairman of Worldwise.

Leading middle market investment bank Capstone Headwaters advised Worldwise. Worldwise is a portfolio company of Mistral Equity Partners.

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