Ares Management’s Credit Group Highlights Third Quarter Financing Commitments
November 06 2017 - 6:30AM
Business Wire
Approximately $3.0 Billion in New Investment
Commitments Closed in the Third Quarter
The Ares Management, L.P. (“Ares Management”) (NYSE: ARES)
Credit Group (including funds managed by Ares Management,
collectively “Ares”) is providing additional details on new
financing commitments in its U.S. direct lending strategies that
closed during the third quarter, which totaled approximately $3.0
billion across 67 transactions.
Below is a description of nine transactions that funds managed
by the Ares Credit Group closed during the third quarter.
Accruent / Genstar Capital
Ares served as administrative agent, joint lead arranger and
joint book runner for a first lien term loan to support Accruent’s
acquisition strategy and to refinance the company’s existing
capital structure. Ares also served as administrative agent for a
term loan and invested in the second lien term loan in connection
with the transaction. Accruent is a leading provider of real estate
and facilities management software serving customers across several
industry verticals including retail, telecom, healthcare, higher
education and public sector businesses.
American Seafoods / Bregal Partners
Ares served as administrative agent, sole arranger and sole
bookrunner for a second lien term loan to support the refinancing
of American Seafoods’ senior secured credit facility. The company
harvests and processes a variety of fish species, including Alaska
pollock, Pacific whiting (hake), yellowfin sole and Pacific cod,
aboard its sophisticated catcher-processor vessels. American
Seafoods distributes its products to a diverse group of customers
globally.
Command Alkon Incorporated / Quilvest Private Equity
Ares served as lead agent for a first lien credit facility and
second lien term loan in support of the refinancing of the
company’s existing capital structure. Command Alkon is the global
leader of integrated production and supply chain software and
technology solutions for heavy building materials.
Frontline Education / Thoma Bravo
Ares served as administrative agent, lead arranger and book
runner for a senior credit facility to support Thoma Bravo’s
acquisition of the company. Frontline is a leading market provider
of human capital management and back-office SaaS-based software
solutions to employees and administrators of K-12 school
organizations.
Sage Payment Solutions / GTCR
Ares served as joint lead arranger, joint bookrunner and
documentation agent for a senior secured credit facility in support
of the acquisition of Sage Payment Solutions (“SPS”) by GTCR. SPS
is a leading provider of credit card, ACH, check, gift and loyalty
card processing services to small and medium-sized businesses in
the United States and Canada.
Sanders Industries / Industrial Growth Partners
Ares served as administrative agent and revolver agent for a
senior secured credit facility to support the refinancing of the
company’s existing capital structure. Sanders Industries is a
manufacturer of elastomeric parts, mid-sized composite structures
and composite tooling for the Commercial Aerospace, Military and
Industrial end markets.
SCM Insurance Services / Warburg Pincus
Ares led and served as administrative agent for first and second
lien credit facilities to support the investment in SCM Insurance
Services by Warburg Pincus. SCM Insurance Services is a leading
provider of claims management, claims investigation support and
risk management solutions for the Canadian property and casualty
insurance industry.
Sparta Systems / New Mountain Capital
Ares served as co-lead for a first lien credit facility to
support the acquisition of Sparta Systems by New Mountain Capital.
Ares also made a second lien investment in connection with the
transaction. Sparta is a leading provider of cloud and on-premise
quality management software.
Visual Edge Technology, Inc.
Ares served as joint lead arranger, joint bookrunner,
administrative agent and collateral agent for a first lien credit
facility to support the refinancing of the company’s existing
capital structure. Ares also served as lead arranger, bookrunner
and agent for a senior subordinated loan in connection with the
transaction. Visual Edge is a leading provider of outsourced office
solutions with a focus on printer & copier equipment, parts
& supplies, and service with a strong presence in the small and
medium-sized business market.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global
alternative asset manager with approximately $106 billion of assets
under management as of September 30, 2017 and more than 15 offices
in the United States, Europe and Asia. Since its inception in 1997,
Ares Management has adhered to a disciplined investment philosophy
that focuses on delivering strong risk-adjusted investment returns
throughout market cycles. Ares Management 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 Management was
built upon the fundamental principle that each group benefits from
being part of the greater whole. For more information, visit
www.aresmgmt.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171106005522/en/
Ares Management, L.P.Carl Drake,
888-818-5298cdrake@aresmgmt.comorJohn Stilmar,
888-818-5298jstilmar@aresmgmt.comorMedia:Mendel
Communications LLCBill Mendel,
212-397-1030bill@mendelcommunications.com
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