Funds managed by Ares Management‘s credit group closed approximately $5.7 billion in U.S. direct lending commitments across 45 transactions during the third quarter of 2022 and approximately $32 billion in direct lending commitments across 251 transactions in the last 12-month period ended Sept. 30. This compares to the $7.2 billion in commitments closed on 54 transactions during the third quarter of 2021 and approximately $27 billion in commitments on 244 transactions in the twelve-month period ended Sept. 30, 2021. Below is a description of selected transactions that Ares closed during the third quarter.
Discovery Life Sciences / Water Street Healthcare Partners
Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility to support Discovery Life Sciences’ acquisition of AllCells. Discovery combines the world’s largest commercial biospecimen inventory and procurement network with preeminent multi-omic service laboratories to accelerate precision medicine programs for cancer, infectious disease and other complex conditions.
Evolent Health
Ares served as the administrative agent for a senior secured credit facility to support Evolent Health’s acquisition of Implantable Provider Group. Evolent Health provides risk-based and non-risk-based services to health plans and providers.
Five Star Food Service / Freeman Spogli
Ares served as an administrative agent, joint lead arranger, and joint bookrunner for a senior secured credit facility to support Freeman Spogli’s growth plans for Five Star Food Service. Five Star is a provider of on-site vending and micro market solutions to employers.
LeanTaaS / Bain Capital
Ares served as the lead arranger and bookrunner for a senior secured credit facility to support Bain Capital’s acquisition of LeanTaaS. LeanTaas provides a suite of SaaS tools that use predictive analytics to optimize healthcare asset utilization.
Legacy Service Partners
Ares served as an administrative agent for a senior secured credit facility to support Legacy Service Partner’s continued growth. Legacy Service Partners is a family of home services brands focused on residential HVAC, plumbing and electrical services.
LJP Waste Solutions / Nonantum Capital Partners
Ares served as the administrative agent and sole lender for a senior secured credit facility to support Nonantum Capital Partners’ acquisition of LJP Waste Solutions. LJP is a regional provider of non-hazardous solid waste and recycling services that specializes in zero landfill and waste-to-energy solutions.
NSM Insurance / The Carlyle Group
Ares served as a joint lead arranger and joint bookrunner for a senior secured credit facility to support The Carlyle Group’s acquisition of NSM. NSM is a leading national insurance program administrator and managing general agent.
Pueblo Mechanical & Controls / OMERS Private Equity
Ares served as the administrative agent, sole lead arranger and sole bookrunner for a senior secured credit facility to support OMERS Private Equity’s acquisition of Pueblo Mechanical & Controls. Pueblo Mechanical & Controls performs a broad offering of HVAC and plumbing maintenance, replacement, retrofit, repair and installation services for commercial facilities, school districts, governmental agencies and municipalities throughout the southwest and Rocky Mountain regions.
Reorg / Permira
Ares served as the joint lead arranger for a senior secured credit facility to support Permira’s acquisition of Reorg. Reorg is a global provider of data, analytics and intelligence for the credit markets.
Revenue Management Solutions / Thompson Street Capital Partners
Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility to support Revenue Management Solutions (RMS) in their acquisition of OrboGraph. RMS is atechnology-based healthcare remittance automation platform.
Talent Systems / RedBird Capital Partners
Ares served as the administrative agent and lead arranger for a senior secured credit facility to support RedBird Capital Partners’ acquisition of Talent Systems. Talent Systems is a casting software and talent marketplace for the entertainment industry.
Tempus
Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility to support Tempus’ growth initiatives. Tempus is a provider of technology enabled precision medicine solutions.
