TUSTIN, Calif.--(BUSINESS WIRE)--Wingspire Equipment Finance, a prominent large-ticket equipment financing company, has announced a $35 million equipment financing deal with a top sponsor-backed medical technology company. This client aims to transform the filling and finishing process for sterile liquid medicines and vaccines. The financing will enable the purchase of several custom Blow-Fill-Seal (BFS) machines, significantly boosting production capacity.
The medical technology company specializes in helping pharmaceutical manufacturers design rapidly scalable, cost-efficient drug delivery systems. The company recently made monumental innovations in its prefilled injection devices, reducing costs by nearly 50%. This advancement had drawn the interest of multiple domestic and foreign investment banks. With timing being critical, the company sought to curb equity investment and assume more cost-effective debt. Wingspire Equipment Finance's capital lease structure was their most attractive solution.
The finance structure will support the acquisition of specialized equipment integral to the company’s prefilled drug delivery systems. The new BFS machines are designed to improve unit production output, consolidate operations into fewer facilities, reduce the company's carbon footprint, and lower transportation costs.
"Timing was critical for the client," said Mark Ellis, Vice President of Originations at Wingspire Equipment Finance. "By understanding our client's specific capital structure needs, we delivered a tailored financing package that addressed their immediate challenges while providing the flexibility to support their future growth. Our solution met their current needs and set them up for continued production expansion into 2025."
For more information about Wingspire Equipment Finance and its comprehensive finance solutions, please visit ef.wingspirecapital.com.
About Wingspire Equipment Finance:
Wingspire Equipment Finance is a leading provider of equipment financing solutions, committed to empowering businesses with flexible and innovative financial solutions. With a focus on client success and industry expertise, Wingspire Equipment Finance is dedicated to helping companies thrive by providing tailored financing options for their equipment needs.
About Wingspire Capital:
Wingspire Capital provides senior secured credit facilities of up to $200 million, and currently has over $1 billion in assets under management. It operates as two divisions: Wingspire Corporate Finance, which provides senior secured revolving lines of credit and term loans, and Wingspire Equipment Finance, which provides standalone equipment loans and leases. Industries financed include automotive, business services, consumer products, distribution, e-commerce & retail, financial services, food & beverage, healthcare, industrial, transportation & logistics, and technology applications.
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 over $192 billion of assets under management as of June 30, 2024. For further information about Wingspire Capital, visit www.wingspirecapital.com.
