Ares Commercial Finance served as administrative agent to provide a $150 million senior secured asset-based revolving line of credit to DP Corporation, d/b/a Lifted Trucks. Lifted Trucks, a portfolio company of Nonantum Capital Partners and TRP Capital Partners, is a Phoenix, AZ-based upfitter and dealer of custom pickup trucks, Broncos, SUVs and Jeeps. The company’s existing lender, UMB Bank also participated in the financing.
“We are excited to collaborate with Lifted Trucks’ management team and their financial sponsors Nonantum and TRP to provide flexible financing for the Company,” said Srid Kannan, managing director, Ares Commercial Finance. “Lifted Trucks has demonstrated impressive growth and built a robust collateral base, making this a compelling opportunity for ACF to support their continued success.”
“We are pleased to provide our financial support to Lifted Trucks as it executes its strategic growth plan,” added Ryan Magee, partner, Ares Commercial Finance. “We look forward to building a long-term, productive relationship with the Company and continuing our collaboration with Nonantum and TRP.”
“I am excited to announce this investment from Ares Commercial Finance, whose outstanding team and innovative financing expertise perfectly complement our dedication to quality,” said James Pillor, co-president of Lifted Trucks. “This new relationship is a terrific outcome and enhances our ability to deliver the highest quality custom trucks and world-class customer service to even more markets across the country.”
Proceeds from the financing will be used to replace and upsize its existing credit facility to support the company for future growth.
