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Franklin Square Provides Unitranche Term Loan to Dent Wizard

February 09, 2015, 07:24 AM
Filed Under: Automotive

Franklin Square Capital Partners announced the origination of a unitranche term loan to finance a dividend recapitalization of Dent Wizard International Corp. (Dent Wizard), the largest vehicle reconditioning servicer in the U.S. and Canada. Dent Wizard is a portfolio company of H.I.G. Capital (H.I.G.), a leading global private equity investment firm with more than $17 billion of capital under management as of December 31, 2014.

The unitranche financing was provided by FS Investment Corporation, FS Investment Corporation II (FSIC II) and FS Investment Corporation III (FSIC III), BDCs managed by Franklin Square and sub-advised by an affiliate of GSO Capital Partners (GSO), the credit platform of Blackstone BX, -0.19% FSIC, FSIC II and FSIC III focus primarily on investing in the debt securities of private U.S. middle market companies.

"We are pleased to have the opportunity to make this commitment to Dent Wizard and to work again with H.I.G. on this new direct origination," said Michael C. Forman, Chairman and Chief Executive Officer of FSIC, FSIC II and FSIC III. "The scale of our platform gives us the ability to provide customized financing solutions to our clients and to support our portfolio companies as they develop and grow their businesses."

"Consistent with our prior experience, GSO and Franklin Square again delivered a timely financing solution tailored to meet our needs," said Fraser Preston, Managing Director of H.I.G. "This commitment is a vote of confidence in Dent Wizard's market position and positions the company to continue to pursue its numerous service and channel growth initiatives. We appreciate Franklin Square's continued commitment to our company."

Founded in 1983 and headquartered in Bridgeton, MO, Dent Wizard is the nation's largest provider of automotive reconditioning services.

H.I.G. is a leading global private equity and alternative assets investment firm with more than $17 billion of equity capital under management (based on total capital commitments to funds managed by H.I.G. Capital and its affiliates).

FSIC is a publicly traded BDC focused on providing customized credit solutions to private middle market U.S. companies.

Franklin Square is a leading manager of alternative investment funds designed to enhance investors' portfolios by providing access to asset classes, strategies and asset managers that typically have been available to only the largest institutional investors.

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