Capstone Partners is pleased to announce the closing of a $46 million senior secured credit facility for Worldwise, Inc., the proceeds of which refinanced existing indebtedness and provided ongoing working capital. Wingspire Capital LLC served as agent.
Based in Novato, CA, Worldwise is a leading supplier of branded pet care products including cat and dog toys, catnip, cat scratchers, and bedding, among other pet accessories. Worldwise has developed an omnichannel presence and is typically the category leader with respect to its core product offering.
The Capstone team was highly-professional and took a thoughtful approach to both the financing structure and marketing process. They took the time to fully understand our business along with our financing needs, and provided a flexible structure that supports our accelerated, future success. Ultimately, they connected us with Wingspire, who is the right financing partner for Worldwise.
“Worldwise is a phenomenal company that is well-positioned to capture additional pet accessory market share in the coming years; we’re honored to have played a small role in that process. David, Kevin, and Petar are true professionals and we’d be delighted to work with them again in the future,” said Brian Schofield, Managing Director with Capstone Partners’ Debt Advisory Group.