Capital Southwest Corp. announced today that it supported the recent acquisition of Binswanger Glass by Wingate Partners with a $44.2 million first lien term loan. Capital Southwest invested $13.3 million in the first lien term loan and serves as sole administrative agent. Main Street Capital Corp. was its co-investor in the term loan. Capital Southwest and Main Street also made equity co-investments in the transaction.
“We are pleased to have the opportunity to partner with Wingate on the acquisition of Binswanger Glass,” said Douglas Kelley, managing director of Capital Southwest. “We are impressed with the company’s market position, and believe that Wingate’s stellar track record of working with management teams to drive shareholder value will be an exciting complement to Binswanger as it moves to the next chapter of its growth.”
Binswanger Glass, headquartered in Memphis, Tennessee, with 64 locations in 15 states, is one of the largest U.S. providers of repair, replacement and remodeling, as well as new construction and installation services for a full suite of architectural glass and aluminum products, serving commercial, residential and automotive aftermarket customers.
