Funds managed by Ares Management’s credit group closed approximately $10.1 billion in U.S. direct lending commitments across 78 transactions during Q4/23 and approximately $22.4 billion in direct lending commitments across 217 transactions in 2023 overall. Below is a description of selected transactions that Ares closed during Q4/23.
AirX Climate Solutions / Gryphon
Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility to support Gryphon’s acquisition of AirX Climate Solutions, a designer, manufacturer, distributor and servicer of specialty HVAC products across end markets such as telecommunications, data centers, energy storage, rental, educational, industrial and commercial.
Apex Service Partners / Alpine Investors
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured facility in connection with Alpine Investors’ single-asset continuation transaction to support the continued growth of Apex Service Partners, a home services platform providing residential HVAC, plumbing and electrical maintenance, repair and replacement services throughout the U.S.
Avetta / Welsh, Carson, Anderson & Stowe
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a new senior secured credit facility to support the continued growth plan for Avetta, a supply chain risk management software-as-a-service platform that connects global enterprise customers to contractors and suppliers.
BradyIFS / Kelso and Warburg Pincus
Ares served as a joint lead arranger and joint bookrunner for a senior secured credit facility to support BradyIFS’ acquisition of Envoy Solutions. The combined business, which will be owned by Kelso & Company and Warburg Pincus, is a distribution platforms in North America providing a range of products to customers, including foodservice disposables, janitorial sanitation products and industrial packaging.
CIRCOR International / KKR
Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility to support KKR’s take-private acquisition of CIRCOR International, a manufacturer of pumps, valves and fluid control components for industrial and aerospace and defense end markets.
DOXA Insurance / Goldman Sachs
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility supporting Goldman Sachs’ acquisition of DOXA Insurance, a specialty managing general agent insurance distribution platform underwriting risk on behalf of insurance carriers across more than 15 programs.
Exostar / Arlington Capital Partners
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Arlington Capital Partners’ acquisition of Exostar, a provider of supply chain, identity management and collaboration software solutions for A&D, healthcare and life sciences customers.
Omega Healthcare / Goldman Sachs
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a new senior secured credit facility to support Goldman Sachs’ continued growth plans for Omega Healthcare, a provider of outsourced revenue cycle management services to the U.S. healthcare industry.
PetVet Care Centers / KKR
Ares served as a joint lead arranger and joint bookrunner for a senior secured credit facility for the refinancing of the PetVet Care Centers’ existing capital structure to support KKR’s continued growth plans for the company. PetVet is a national network of veterinary hospitals in the U.S. operating general practice and specialty veterinary hospitals for pets.
Road Safety Services / Harvest Partners
Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility to support the acquisition of Road Safety Services by funds managed by Harvest Partners. Road Safety Services is a provider of pavement marking and traffic control services.
Vertex Service Partners / Alpine Investors
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support platform M&A for Vertex, an existing Alpine portfolio company. Vertex is an exterior residential services platform focused on residential repair and replacement roofing services.
VIVE Collision / Greenbriar Equity Group
Ares served as the administrative agent, sole lead arranger and sole bookrunner for a senior secured credit facility to support Greenbriar Equity Group’s acquisition of VIVE Collision, an operator of collision repair centers in the Northeast.
