NEW YORK--(BUSINESS WIRE)--
Ares Capital Corporation (NASDAQ:ARCC) is providing additional details on its new financing commitments closed during the first quarter, which totaled more than $850 million across 28 transactions.
Below is a description of six transactions that closed during the first quarter.
Vista Sand
Ares Capital Corporation served as the
administrative agent for a $125.0 million senior loan to support the
recapitalization and growth of Vista Sand, which includes an accordion
feature to accommodate additional potential growth. Vista Sand is a
privately-held sand processor and distributor to the oil and gas
industry, with operations strategically located near major oil and gas
basins in Texas.
DFS Holding Company / New Mountain Capital
Ares Capital
Corporation served as the administrative agent and joint lead arranger
for a $62.0 million senior secured credit facility to support the
acquisition of Factory Direct Warehouse by Diversified Foodservice
Supply, an existing New Mountain Capital portfolio company.
Headquartered in Mount Prospect, IL, DFS is a leading distributor of
mission critical maintenance, repair and operation parts, supplies and
equipment to the highly fragmented foodservice parts, supplies and
equipment industry.
Planview / Thoma Bravo
Ares Capital Corporation served as
book runner, lead arranger and administrative agent for both a first
lien term loan and a second lien term loan to support the acquisition of
Planview by Thoma Bravo. Headquartered in Austin, Texas, Planview is a
market-leading provider of project and portfolio management software
with a primary focus on IT departments.
Intoxalock / Welsh, Carson, Anderson & Stowe
Ares
Capital Corporation served as administrative agent, and Ares Capital
Management served as joint lead arranger and joint book runner for a
senior secured credit facility in support of the acquisition of Consumer
Safety Technology, Inc. (d/b/a “Intoxalock”) by Welsh, Carson, Anderson
& Stowe. Founded in 1992, Intoxalock is a leading provider of ignition
interlock devices, which are breathalyzer units installed in a DUI
offender’s vehicle as part of their sentence as required by a number of
states.
Dorner Holdings / EQT Mid Market US
Ares Capital Corporation
served as a lead investor for a senior secured credit facility to
support the acquisition of Dorner Holdings by EQT Mid Market US. Founded
in 1966 and headquartered in Hartland, WI, Dorner is a leading
manufacturer of precision unit conveyors. The company’s specialized
conveyor systems play critical roles in customers’ manufacturing and
packaging lines and are used in sensitive applications with high
precision and/or sanitary requirements.
Cozzini Bros / Birch Hill Equity Partners
Ares Capital
Corporation served as administrative agent and sole lender for the
senior secured credit facility to support the acquisition of Cozzini
Bros by Birch Hill Equity Partners. Cozzini Bros, founded in 1904 and
headquartered in Des Plaines, IL, is a leading provider of
subscription-based commercial knife and cutlery sharpening services and
related products to customers ranging in scale from local single
location restaurants to large national chains and nationwide kitchen
services organizations.
About Ares Capital Corporation
Ares Capital is a leading
specialty finance company that provides one-stop debt and equity
financing solutions to U.S. middle market companies, venture capital
backed businesses and power generation projects. Ares Capital originates
and invests in senior secured loans, mezzanine debt and, to a lesser
extent, equity investments through its national direct origination
platform. Ares Capital’s investment objective is to generate both
current income and capital appreciation through debt and equity
investments primarily in private companies. Ares Capital has elected to
be regulated as a business development company (“BDC”) and as of
March 31, 2017, was the largest BDC by total assets and market
capitalization. Ares Capital is externally managed by a subsidiary of
Ares Management, L.P. (NYSE:ARES), a publicly traded, leading global
alternative asset manager. For more information about Ares Capital,
visit www.arescapitalcorp.com.
However, the contents of such website are not and should not be deemed
to be incorporated by reference herein.
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