Franchise Group unit gets $133.5 million upsize of term loan

By Marisa Wong

Los Angeles, Sept. 13 – Franchise Group, Inc. obtained, through an affiliated special purpose vehicle, a $133.5 million upsize of its existing senior secured term loan credit facility, bringing the total credit facility to $200.6 million, according to a press release.

Pathlight Capital LP is the administrative agent.

The upsize facility provided additional liquidity in connection with the management-led acquisition of Franchise Group. Specifically, the upsize will be used to support an incremental purchase of a portfolio of performing receivables from W.S. Badcock Corp.

W.S. Badcock, a subsidiary of Franchise Group, is a home furnishings company based in Mulberry, Fla. Franchise Group is a Delaware, Ohio-based holding company.

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