Franklin Square Capital Partners announced an upsizing of its senior secured unitranche loan to support the merger of Air Energi Group Limited with Swift Worldwide Resources Limited, a portfolio company of the New York-based middle market private equity firm Wellspring Capital Management, to form Airswift Holdings Limited.

The financing was provided by FS Investment Corporation II (FSIC II), FS Investment Corporation III (FSIC III) and FS Energy and Power Fund (FSEP), BDCs managed by affiliates of Franklin Square and sub-advised by GSO Capital Partners LP (GSO) or its affiliate.

Airswift brings together two of the world's leading names in energy recruitment to offer clients a truly global service and an unrivalled candidate pool across a broad spectrum of skills. With the largest geographic footprint in the industry, Airswift will offer a suite of workforce solutions on a worldwide basis, including recruitment for contract staff and permanent hires, resource consultancy, global mobility and managed solutions.

The merger of Swift and Air Energi combines businesses with complementary contracting expertise and key customers. "We believe the combined entity will help create a leading labor provider by expanding the geographical footprint and contractor network," commented Valerie Kritsberg, Managing Director at GSO.

"Franklin Square's unique access to capital across our BDC platform allows us to grow our investment in strong portfolio companies such as Swift," said Michael C. Forman, Chairman and Chief Executive Officer of FSIC II, FSIC III and FSEP.

Specific terms of the deal were not disclosed.

Franklin Square is a leading manager of alternative investment funds designed to enhance investors' portfolios by providing access to asset classes, strategies and asset managers that typically have been available to only the largest institutional investors. The firm's funds offer "endowment-style" investment strategies that help construct diversified portfolios and manage risk. Franklin Square strives not only to maximize investment returns but also to set the industry standard for best practices by focusing on transparency, investor protection and education for investment professionals and their clients.