The Senior Secured Loan Program (SSLP), jointly managed by an affiliate of Ares Capital and an affiliate of GE Capital, announced that it closed three financing commitments totaling $590 million, including refinancing transactions, during the second quarter of 2012. Since January 1, 2010, the SSLP has committed approximately $7.3 billion to middle-market borrowers.

“The transaction activity during the second quarter illustrates the importance of closing certainty and financing flexibility which SSLP provides to private equity sponsors,” said Michael Arougheti, president of Ares Capital.

Stuart Aronson, president and CEO of GE Capital’s Sponsor Finance business, said, “Helping build and strengthen the middle market is central to our business. The SSLP provides a flexible and reliable capital solution to middle-market companies through all market conditions, and we look forward to working with these companies as they continue to grow their businesses.”

Below is a brief description of three recent transactions.

Augusta Sportswear Holdings/Kelso & Company

GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a $367 million senior secured term loan, of which $300 million was provided by the SSLP and $67 million was directly provided by Ares Capital, to support the acquisition of Augusta Sportswear Holdings by Kelso & Company. Augusta is a producer and distributor of team uniforms, athletic apparel, outerwear, and school-inspired products to team uniform suppliers and custom decorators.

SVP Worldwide/Kohlberg & Company

GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a $200 million senior secured term loan provided by the SSLP to support the refinancing of SVP Worldwide by Kohlberg & Company. SVP is a consumer sewing machine company.

Cambridge International/Industrial Growth Partners

GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a senior secured term loan provided by SSLP to support the acquisition of Cambridge International, Inc. by Industrial Growth Partners. Cambridge International, Inc. is a pioneer and a provider of mission-critical, consumable, custom-built and highly engineered woven metal products used for process conveying as well as architectural and environmental applications.