Approximately $5.6 Billion in New U.S. Direct Lending Commitments
Closed in the Fourth Quarter and $15.0 Billion for all of 2018
NEW YORK--(BUSINESS WIRE)--
Ares Management Corporation (NYSE: ARES) is providing additional details
on certain new financing commitments made by funds managed by its Credit
Group across its U.S. direct lending strategies. During the fourth
quarter, the Credit Group closed approximately $5.6 billion in
commitments across 63 transactions, bringing the full year total to
approximately $15.0 billion in commitments across 216 transactions, of
which 92% were in senior secured loans. During 2018, the Credit Group
partnered on transactions with more than 100 sponsors.
Below is a description of 12 transactions that funds managed by the Ares
Credit Group (collectively “Ares”) closed during the fourth quarter.
Center for Autism and Related Disorders / The Blackstone Group
Ares served as administrative agent, collateral agent, joint lead
arranger, and joint bookrunner for a senior secured credit facility to
support Blackstone’s growth plans for the company. The Center for Autism
and Related Disorders provides a comprehensive suite of autism treatment
services focused on applied behavioral analysis (ABA) therapy in the
clinic, home, and school settings.
Centric Brands / Tengram Capital Partners
Ares served as administrative agent, joint lead arranger, and joint
bookrunner for a senior secured credit facility to support an
acquisition and execute on the sponsor’s business plan. Centric Brands,
f/k/a Differential Brands Group, is a leading designer, marketer, and
distributor of apparel, accessories, and related lifestyle products of
widely recognized consumer brands.
Hearthside Food Solutions / Charlesbank
Ares served as the joint lead arranger, collateral agent, and
administrative agent for a senior secured, second lien term loan to
support a strategic acquisition by Hearthside. Hearthside Food Solutions
is a leading bakery, nutrition bar, snack, and customized packaging
solutions provider.
IMIA / J.F. Lehman & Company
Ares served as the administrative agent, sole lead arranger and
bookrunner for a senior secured credit facility to support J.F. Lehman &
Company’s acquisition of International Marine & Industrial Applicators,
LLC and Craft Technical Solutions, LLC (collectively, “IMIA”). IMIA
provides critical vessel preservation services to the U.S. Navy and
commercial maintenance, repair, and overhaul and new construction
markets.
Information Resources / Vestar Capital Partners
Ares served as the joint lead arranger and joint bookrunner for a senior
secured second lien term loan to support Vestar’s acquisition of
Information Resources Inc. Information Resources Inc. is a leading
market research company which provides consumer, shopper, and retail
market intelligence and analysis to the consumer-packaged goods industry
globally.
MacLean-Fogg Company
Ares served as the administrative agent, sole lead arranger, and sole
bookrunner for a senior secured credit facility to support a refinancing
of a portion of MacLean-Fogg Company’s existing capital structure. The
company is a global manufacturer and supplier for the automotive and
power utility marketplaces worldwide.
Pathway Vet Alliance / Morgan Stanley Investment Management
Ares served as the administrative agent, sole lead arranger, and
bookrunner for a senior secured credit facility to support the
refinancing of Pathway Vet Alliance’s existing capital structure to
provide additional capital to continue its acquisition strategy. Pathway
is one of the largest owner operators of freestanding veterinary
hospitals in the U.S.
Plaskolite / Pritzker Private Capital
Ares served as the second lien administrative agent, collateral agent,
joint lead arranger, and joint bookrunner for a second lien term loan to
support the acquisition of Plaskolite by Pritzker Private Capital.
Plaskolite is a large manufacturer of specialized acrylic and
polycarbonate sheet.
Pritchard Industries / A&M Capital Partners
Ares served as the administrative agent, lead arranger, and sole
bookrunner to provide financing to A&M Capital Partners to support the
acquisition of Pritchard Industries, Inc. and its affiliates (“Pritchard
Industries”). Pritchard Industries is a leading provider of facilities
services, delivering a wide-range of janitorial and specialty services
to commercial office buildings, education and government facilities,
sports/entertainment venues, medical complexes and industrial facilities.
Professional Datasolutions / Genstar Capital and TA Associates
Ares served as the first lien joint lead arranger and joint bookrunner
and second lien administrative agent, lead arranger, and bookrunner for
a senior secured financing facility to support a recapitalization given
Professional Datasolutions’ (“PDI”) successful execution of its
accretive acquisition strategy. PDI is a dominant market
provider of software and related services for multi-unit convenience
store retailers, wholesale petroleum marketers, and fuel carriers and
haulers.
SecurAmerica
Ares served as the administrative agent, collateral agent, lead
arranger, and sole bookrunner for a senior secured credit facility to
support the acquisition of a majority interest in Delta Global Services
(DGS) by SecurAmerica and provide follow-on capital for additional
growth opportunities across the company’s service lines. DGS is a
leading aviation services provider offering aviation and
security-related services to Delta and other airlines in more than 170
airport locations in the continental United States, Alaska, Hawaii, Guam
and the Bahamas. SecurAmerica is a leading provider of outsourced
commercial and government security services in the U.S. The company also
provides janitorial, maintenance and landscaping services to retail
centers and commercial clients, along with various outsourced aviation
services to airlines and airports.
Team Technologies / Clearlake Capital Group
Ares served as the administrative agent, collateral agent, sole lead
arranger, and sole bookrunner for a first lien term loan to support
Clearlake’s acquisition of Team Technologies. Team is a specialized,
engineering-oriented contract manufacturing organization primarily
focused on manufacturing consumable products in the dental, medical,
cosmetic, and industrial end-markets, with particular competency in
bristling technology and molded applicators.
About Ares Management Corporation
Ares Management Corporation is a publicly traded, leading global
alternative asset manager with approximately $130.7 billion of assets
under management as of December 31, 2018 and 18 offices in the United
States, Europe, Asia and Australia. Since its inception in 1997, Ares
has adhered to a disciplined investment philosophy that focuses on
delivering strong risk-adjusted investment returns throughout market
cycles. Ares believes each of its three distinct but complementary
investment groups in Credit, Private Equity and Real Estate is a market
leader based on assets under management and investment performance. Ares
was built upon the fundamental principle that each group benefits from
being part of the greater whole. For more information, visit www.aresmgmt.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190219005852/en/
Ares Management Corporation
Carl Drake, (888) 818-5298
[email protected]
or
John
Stilmar, (888) 818-5298
[email protected]
Media:
Mendel Communications LLC
Bill Mendel,
212-397-1030
[email protected]
Source: Ares Management Corporation
