Funds managed by the credit group of Ares Management closed approximately $5.9 billion in U.S. direct lending commitments across 58 transactions during Q2/22 and approximately $31.8 billion in direct lending commitments across 259 transactions in the last 12-month period ended June 30, 2022. In addition, Ares also acquired a portfolio of approximately $2.4 billion of middle market loans during the second quarter. This compares to the $9.0 billion in commitments closed on 77 transactions during the second quarter of 2021 and approximately $21.8 billion in commitments on 221 transactions in the 12-month period ended June 30, 2021. Below is a description of selected transactions that Ares closed during the second quarter.
AffiniPay / TA Associates
Ares served as the administrative agent and sole lead arranger for a senior secured credit facility to support AffiniPay’s acquisition of MyCase. AffiniPay is a provider of professional services payments serving legal, accounting, architectural, engineering and construction firms.
American Technologies / TSG Consumer Partners
Ares served as the administrative agent for a senior secured credit facility to support TSG Consumer Partners’ growth plans for American Technologies (ATI). ATI is a disaster recovery firm that provides a wide range of restoration, remediation and reconstruction services across a spectrum of industries and end markets.
Beeline / Stone Point Capital
Ares served as the joint lead arranger and joint bookrunner for a senior secured credit facility to support Stone Point Capital’s acquisition of Beeline. Beeline is a provider of extended workforce management software supporting global enterprises.
Bottomline Technologies / Thoma Bravo
Ares served as the administrative agent and joint lead arranger for a senior secured credit facility to support Thoma Bravo’s acquisition of Bottomline Technologies. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review and state of the art fraud detection, behavioral analytics and regulatory compliance solutions.
Crete Mechanical Group / Ridgemont Equity Partners
Ares served as the administrative agent, joint lead arranger and sole bookrunner for a senior secured credit facility to support Ridgemont Equity Partners’ growth plans for Crete Mechanical Group (CMG). CMG is a provider of commercial HVAC, electrical, plumbing and building automation services to industrial, multi-family, government, healthcare, education and other end markets.
Foundation Risk Partners / Warburg Pincus
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Warburg Pincus’ growth plans for Foundation Risk Partners (FRP). FRP is a national insurance broker, providing property and casualty and employee benefits services primarily to middle-market commercial and personal clients.
Kaseya / Insight Partners
Ares served as the joint lead arranger and joint book runner for a senior secured credit facility to support Kaseya’s acquisition of Datto. Kaseya is a premier provider of unified IT management and security software for managed service providers and small to medium-sized businesses.
Mimecast / Permira Advisers
Ares served as the administrative agent and joint lead arranger for a senior secured credit facility to support Permira Advisors’ acquisition of Mimecast. Mimecast is a provider of next-generation cybersecurity software focused on e-mail security for businesses.
Premise Health / OMERS Private Equity
Ares served as the administrative agent, joint lead arranger and joint lead bookrunner for a senior secured credit facility to support Premise Health, an existing portfolio company of OMERS Private Equity. Premise Health is a provider of employer-sponsored healthcare, operating more than 850 onsite health clinics and pharmacies in 45 states to serve blue-chip customers across a diverse range of end-markets.
Woodstream / Bansk Group
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Bansk Group’s growth plans for Woodstream. Woodstream manufactures, designs, and markets pest control and animal products such as rodent traps, insect traps and bird feeders in the United States, Canada and Europe.
