Daily News: January 31, 2018

Ares Provides $41.7MM Credit Facility to CST Acquisition


Ares Commercial Finance provided a $41.7 million senior secured credit facility to CST Acquisition. The facility included a $16.7 million term loan and an undrawn $25 million revolving line of credit to fund future growth.

Proceeds were used to support Solace Capital Partners’ 363 purchase of CST Industries.

CST is the largest dome and storage tank manufacturer in the world. It has five manufacturing facilities and technical design centers, along with multiple regional sales offices located throughout North and South America, Europe, Australia, Asia and the Middle East.

Solace Capital Partners is a private investment firm focused on control-oriented special situations and distressed-for-control investments in complex, distressed or capital-constrained, lower-middle market companies.