Franklin Square Upsizes Commitment to A.P. Plasman by $50 Million
Jun 28 2016 | by DI Wire
Franklin Square Capital Partners, a manager of business development companies, announced a $50 million upsizing of its senior secured unitranche loan to A.P. Plasman, Inc., a designer and manufacturer of exterior trim products for a variety of industries.
The loan will be used to support A.P. Plasman’s acquisition of Plastal Industri, a supplier of exterior painted trim products for the automotive industry. A.P. Plasman is a portfolio company of Insight Equity, a New York-based middle market private equity investment firm.
Financing was provided by FS Investment Corporation (NYSE: FSIC), a BDC managed by an affiliate of Franklin Square and sub-advised by an affiliate of GSO Capital Partners LP. The upsized deal represents FSIC’s sixth round of funding for A.P. Plasman.