Sponsor to a number of non-traded BDCs, Franklin Square Capital Partners (Franklin Square), in partnership with Blackstone’s credit division, GSO Capital Partners (GSO), has provided a senior secured loan to Altamont Capital Partners (Altamont). Altamont is a San Francisco based investment firm that invests in middle market businesses.
The investment, which was made through Franklin Square’s non-traded BDCs, FS Investment Corporation II (FSIC II) and FS Investment Corporation III (FSIC III), will be used by Altamont to finance the acquisition and recapitalization of Fox Head, Inc. (Fox) and Hybrid Apparel (Hybrid). Franklin Square is an equity co-investor with Altamont, according to the terms of the agreement.
“This is our third transaction with GSO and Franklin Square and we have built a strong, successful relationship,” commented Kristin Johnson, Director of Capital Markets and Business Development of Altamont. “We are pleased with the relationship, expect continued success, and look forward to future opportunities to collaborate.”
“For a second time this year, GSO is proud to partner with Altamont on a strong investment opportunity,” added Dan Smith, Senior Managing Director at GSO.
Fox is the world’s leading brand of motocross apparel and sponsors a number of well-known riders. Fox researches and develops race clothing that provides optimal protection and ease of movement.
As a leading supplier of branded, licensed, and private label apparel, and as a full service apparel house, Hybrid designs, merchandises, develops, sources, produces, and distributes apparel across all tiers of distribution.
“We are excited to work with Altamont in bringing together the power of Fox’s iconic brand with Hybrid’s distribution expertise,” said Michael C. Forman, Chairman and Chief Executive Officer of FSIC II and FSIC III.