Wingspire Capital Provides $50 Million to Tooling Tech
August 16, 2023
Source: Wingspire Capital
Wingspire Capital committed a $35 million senior secured term loan and a $15 million revolver to Tooling Tech Group as the company leans into a new era of growth.
The proceeds will be used to best position the Fenton, Michigan-based company to take advantage of industry tailwinds in support of its disciplined growth strategy, both organically and via compelling M&A opportunities both in the automotive sector and other end markets.
Tooling Tech Group is one of the largest tooling providers in the United States, with more than 600 employees and one million square feet of manufacturing space across 12 modern facilities. The vertically-integrated company offers automation, CNC machining, compression molds, die casting and thermoforming dies, precision stamping dies, and other services that allow them to complete jobs in-house, on-time, and at a competitive price.
In addition to Wingspire Capital’s financing, TCW Asset Management Company LLC agented $75 million in capital as part of a broader $110 million term loan to Tooling Tech Group.
About Us
Wingspire Capital offers one-stop solutions of up to $200 million for middle market companies, including revolving lines of credit, cash flow loans, fixed asset term loans, first-out term loans & revolvers, equipment leases, and sale leasebacks. Industries financed include business services, consumer products, e-commerce & retail, food & beverage, manufacturing, distribution, transportation & logistics, automotive, technology applications and financial services.
Wingspire Capital is a portfolio company of Blue Owl Capital Corporation (NYSE: OBDC). OBDC is externally managed by Blue Owl Credit Advisors LLC, an indirect affiliate of Blue Owl Capital, Inc. (NYSE: OWL). Blue Owl Capital, Inc. is a global alternative asset manager with $150 billion of assets under management as of June 30, 2023.
The proceeds will be used to best position the Fenton, Michigan-based company to take advantage of industry tailwinds in support of its disciplined growth strategy, both organically and via compelling M&A opportunities both in the automotive sector and other end markets.
Tooling Tech Group is one of the largest tooling providers in the United States, with more than 600 employees and one million square feet of manufacturing space across 12 modern facilities. The vertically-integrated company offers automation, CNC machining, compression molds, die casting and thermoforming dies, precision stamping dies, and other services that allow them to complete jobs in-house, on-time, and at a competitive price.
In addition to Wingspire Capital’s financing, TCW Asset Management Company LLC agented $75 million in capital as part of a broader $110 million term loan to Tooling Tech Group.
About Us
Wingspire Capital offers one-stop solutions of up to $200 million for middle market companies, including revolving lines of credit, cash flow loans, fixed asset term loans, first-out term loans & revolvers, equipment leases, and sale leasebacks. Industries financed include business services, consumer products, e-commerce & retail, food & beverage, manufacturing, distribution, transportation & logistics, automotive, technology applications and financial services.
Wingspire Capital is a portfolio company of Blue Owl Capital Corporation (NYSE: OBDC). OBDC is externally managed by Blue Owl Credit Advisors LLC, an indirect affiliate of Blue Owl Capital, Inc. (NYSE: OWL). Blue Owl Capital, Inc. is a global alternative asset manager with $150 billion of assets under management as of June 30, 2023.
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