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Wingspire Capital Provides $95MM Credit Facility to Fox Racing

May 18, 2021, 08:00 AM
Filed Under: Apparel

Wingspire Capital provided a $95 million senior secured credit facility to Fox Racing, the global leader in motocross and mountain biking protective gear and apparel. The credit facility consists of a $35 million revolving line of credit and a $60 million term loan.

Fox Racing, a portfolio company of Altamont Capital Partners, used the loan proceeds to refinance its prior senior credit facility and to support its immediate and long term growth initiatives. Prior to and throughout the pandemic, Fox Racing has experienced growing demand around the world for its protective moto gear, apparel, and accessories as people continue to spend more time outdoors and increase spending on sports and fitness activities.

“Wingspire is proud to have delivered this financing solution for Fox Racing and Altamont Capital Partners. We founded Wingspire on the cornerstones of creativity, practicality and responsiveness, all of which were on display as our team worked effectively with the management team of Fox to close this complicated financing within a demanding timeframe,” said David Wisen, CEO of Wingspire.   

Pete Meyerdirk from Altamont Capital Partners added: “Piper Sandler ran a competitive process in identifying the best financing solutions for the needs of our portfolio company, Fox Racing. We selected Wingspire because they designed a detailed strategy to accomplish the financial objectives we were looking for. Their approach, combined with their ability to provide a one-stop financing solution gave us the confidence we were looking for in that they would deliver the credit facility we were looking for within a condensed timeline.”

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