Approximately $2.9 Billion in New Direct Lending Commitments Closed
in the Third Quarter
NEW YORK--(BUSINESS WIRE)--
The Ares Management, L.P. (“Ares Management”) (NYSE: ARES) Credit Group
(including funds managed by Ares Management, collectively “Ares”) is
providing additional details on certain new financing commitments in its
U.S. direct lending strategies that closed during the third quarter of
2018, which totaled approximately $2.9 billion in commitments across 47
transactions.
Below is a description of eight transactions that funds managed by the
Ares Credit Group closed during the third quarter.
Alcami / Madison Dearborn Partners
Ares served as administrative agent, joint lead arranger and bookrunner
for senior credit facilities to support the acquisition of Alcami by
Madison Dearborn. Ares also made an equity co-investment alongside
Madison Dearborn. Alcami provides outsourced drug development services,
including formulation development, analytical testing, drug product
supply and drug packaging, for a broad range of customers.
Apex Clean Energy
Ares served as administrative agent for a term loan to support the
company’s future growth objectives. Apex Clean Energy develops,
constructs, and operates utility-scale wind and solar power facilities
across North America.
Cadence Aerospace / Arlington Capital Partners
Ares served as administrative agent, issuing lender, joint lead arranger
and bookrunner in an incremental term loan to support Cadence
Aerospace’s acquisition of Perfekta Aerospace. Cadence Aerospace is a
precision manufacturer and supplier of flight critical components,
subassemblies and assemblies to Tier 1 aero-structures and
aero-equipment suppliers and to aircraft original equipment
manufacturers for commercial and defense platforms.
Implus Footcare / Berkshire Partners
Ares served as administrative agent, lead arranger, and bookrunner for a
term loan to support the acquisition of SKLZ by Implus. Implus is an
innovative provider of athletic, fitness, and outdoor accessory products
ranging from footcare and seasonal accessories to fitness and recovery
solutions. Implus distributes to over 75,000 retail outlets across North
America and in 70 countries worldwide.
Premise Health Holding Corp. / OMERS Private Equity
Ares served as administrative agent, joint lead arranger, joint
bookrunner for senior secured credit facilities to support the
acquisition of Premise Health by OMERS Private Equity. Premise Health is
the leading provider of employer-sponsored onsite health and wellness
clinics and pharmacies domestically, operating over 600 onsite health
clinics and pharmacies in 45 states.
Procare Software / Warburg Pincus
Ares served as joint lead arranger and joint bookrunner for a senior
secured credit facility to support the recapitalization of and growth
investment in Procare Software by Warburg Pincus. Procare provides
software and integrated payment processing services to the childcare
market in the U.S.
Solis Mammography / Madison Dearborn Partners
Ares served as administrative agent and joint lead arranger for a senior
secured credit facility to support the recapitalization of Solis
Mammography by Madison Dearborn Partners. Solis is one of the largest
independent pure-play providers of mammography and related imaging
services in the U.S. and provides approximately 1 million procedures
each year across over 50 centers.
Varsity Brands / Bain Capital
Ares served as administrative agent for a second lien term note to
support the growth strategy of Varsity Brands. Varsity Brands is a
leading manufacturer and supplier of athletic gear, recognition awards,
graduation-related products and cheerleading products and services.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative
asset manager with approximately $125.1 billion of assets under
management as of September 30, 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/20181105005287/en/
Ares Management, L.P.
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, L.P.
