Funds managed by the credit group of Ares Management closed approximately $4.1 billion in U.S. direct lending commitments across 51 transactions during Q2/23 and approximately $20.2 billion in direct lending commitments across 181 transactions in the last 12-month period ended June 30.
Below is a description of selected transactions that Ares closed during the second quarter.
Apex Service Partners / Alpine Investors
Ares served as a lender for an incremental senior secured credit facility to support Alpine Investors’ continued growth plans for Apex Service Partners. Apex Service Partners is a home services business providing residential HVAC, plumbing and electrical maintenance and repair services throughout the United States.
Certified Power / Brinkmere Capital Partners
Ares served as the administrative agent and lead arranger and bookrunner for a senior secured credit facility to support Brinkmere Capital’s continued growth plans for Certified Power. Certified Power Inc is a value-added distributor of engineered fluid power and motion control solutions for mobile and industrial applications.
Convera / The Baupost Group & Goldfinch Partners
Ares served as the administrative agent for an incremental senior secured credit facility to support The Baupost Group and Goldfinch Partners’ continued growth plans for Convera. Convera (dba Western Union Business Solutions) is a non-bank provider of cross-border business payment and foreign exchange solutions.
Mr Greens / Sterling Investment Partners
Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility to support Sterling Investment Partners’ acquisition of Mr Greens. Headquartered in Miami, Florida, Mr Greens is a distributor of produce, dairy and specialty food items to the restaurant and hospitality industries in Florida and Texas, including many of the marquee restaurant groups in its active markets.
Northwinds Services Group / TruArc Partners
Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility to support TruArc Partners’ recapitalization of Northwinds Services Group. Northwinds is a HVAC and plumbing services provider focused on serving both residential and commercial customers in the Northeast, Mid-Atlantic and Midwest.
ProService / Silver Lake Partners
Ares served as the administrative agent, lead arranger and bookrunner to support Silver Lake’s acquisition of ProService. ProService is a specialty provider of comprehensive HR outsourcing services, helping SMB employers manage time-consuming and complex HR tasks such as payroll, benefits, insurance, compliance, administrative and risk management services.
Suave / Yellow Wood Partners
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Yellow Wood Partners’ acquisition of Suave. Suave is a personal care company with products across hair care, skin cleansing, deodorant and skincare.
The SEER Group / Genstar Capital
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Genstar Capital’s acquisition of the SEER Group. SEER provides residential and commercial HVAC, electrical and plumbing services in the greater Pacific Northwest region, with a base of more than 30 brands and hundreds of technicians.
Towne Park / Greenbriar Equity Group
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Greenbriar Equity Group’s acquisition of Towne Park. Towne Park is a provider of tech-enabled parking management and hospitality services.
Vobev
Ares served as the administrative agent for a senior secured credit facility to support Vobev’s continued growth plans. Vobev is a vertically integrated aluminum beverage can producer and filler in North America.
