Wingspire Capital Provides $46 Million Senior Secured Credit Facility to Worldwise, Inc.

Wingspire Capital LLC (“Wingspire”) is pleased to provide 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.

ABOUT WINGSPIRE CAPITAL

Wingspire Capital, LLC focuses on the upper tier of the senior secured asset-backed lending market by providing revolving credit lines and term loans ranging from $20 to $200 million. With offices in Atlanta, Chicago and metro New York, Wingspire serves mid-sized public and private businesses across numerous industries including manufacturing, distribution, retail, logistics, automotive, energy, consumer products, hospitality, lender finance and business services. Wingspire’s loans are secured by assets such as accounts receivable, inventory, equipment, real estate and intellectual property. Wingspire is a portfolio company of Owl Rock Capital Corporation (NYSE: ORCC), which is externally managed by Owl Rock Capital Advisors LLC, an SEC-registered investment adviser. Owl Rock Capital Advisors LLC, together with its affiliates, is a New York based direct lending platform with approximately $27 billion of assets under management as of December 31, 2020.

ABOUT WORLDWISE, INC.

Worldwise, Inc. is a supplier and manufacturer of pet products including cat and dog toys, catnip, cat scratchers, dog treats, pet travel products and pet bedding. The company is one of the nation’s leading providers of branded pet products, offering its retail customers a one-stop shop for all of their pet product merchandise. Worldwise’s award winning brands include SmartyKat, TrustyPup, Petlinks, PoochPlanet, Sherpa, GoDog, OlviPet and Pawscout. Worldwise is headquartered in Novato, CA, and is a portfolio company of Mistral Equity Partners.