Fox Racing Signs New Financing Partner
Fox Racing has a new financing partner as the company continues to see strong demand.
Wingspire Capital said in a statement that it has provided a $95 million senior secured credit facility to Fox, which specializes in motocross and mountain biking protective gear and apparel. The credit facility consists of a $35 million revolving line of credit and a $60 million term loan.
Fox, which is owned by Altamont Capital Partners, used the new loan to refinance its prior senior credit facility and to support its immediate and long term growth initiatives, according to a press release by Wingspire.
Prior to and throughout the pandemic, Fox has experienced growing demand around the world for its protective moto gear, apparel, and accessories as people continue to spend more time outdoors and increase spending on sports and fitness activities, Wingspire said.