Springs Window Fashions Completes Capital Infusion for Growth
Deal News | Dec 19, 2024 | Clearlake Capital
Springs Window Fashions, a leading manufacturer of custom window treatments based in Middleton, Wisconsin, has completed a capital raise and refinancing of its outstanding debt. This transaction includes a new first-out term loan facility, a revolving credit facility, a second-out term loan facility to refinance its term loan, and new second lien notes to replace a portion of its senior notes. The firm has extended the maturity of several debt instruments to 2028. Clearlake Capital, a private equity firm, supports this deal, providing liquidity to Springs to capitalize on market recovery and pursue growth through operational initiatives. The legal and financial advisory firms involved include Kirkland & Ellis LLP, Centerview Partners LLC, Wachtell, Lipton, Rosen & Katz, Houlihan Lokey, Davis Polk & Wardwell LLP, Perella Weinberg Partners, and Latham & Watkins LLP. Springs' CEO, Jason Bingham, and Clearlake Capital’s Jos E. Feliciano express confidence in the strategic growth trajectory the capital infusion will enable.
Sectors
- Home Furnishings
- Private Equity
- Financial Services
Geography
- United States – Springs Window Fashions is based in Middleton, Wisconsin, and Clearlake Capital operates from Santa Monica, California.
- Europe – Springs Window Fashions extends its market reach in Europe through its division, B&C International.
Industry
- Home Furnishings – Springs Window Fashions operates in the home furnishings industry, producing custom window coverings for residential and commercial applications.
- Private Equity – Clearlake Capital, the private equity firm, provided financial support for Springs Window Fashions' capital expansion.
- Financial Services – The transaction required financial restructuring, involving multiple financial advisors and credit facilities.
Financials
- – The article does not specify the exact amount of the capital infusion or the refinancing terms.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Springs Window Fashions | Target Company | Company | A leading manufacturer of custom window treatments, based in Middleton, Wisconsin. |
| Clearlake Capital | Private Equity Firm | Company | A private equity firm providing capital to Springs Window Fashions, headquartered in Santa Monica, CA. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Provided legal services to Springs Window Fashions. |
| Centerview Partners LLC | Financial Advisor | Company | Served as financial advisor to Springs Window Fashions. |
| Wachtell, Lipton, Rosen & Katz | Legal Advisor to Lenders | Company | Legal advisor to certain lenders and investors. |
| Houlihan Lokey | Financial Advisor to Lenders | Company | Financial advisor to certain lenders and investors. |
| Davis Polk & Wardwell LLP | Legal Advisor | Company | Served as legal advisor to certain lenders and investors. |
| Perella Weinberg Partners | Financial Advisor | Company | Served as financial advisor to certain lenders and investors. |
| Latham & Watkins LLP | Legal Advisor | Company | Legal advisor to the administrative agent and certain other lenders. |