Outlined below are brief descriptions of eight transactions encompassing $1.54 billion of financings:
American Seafoods / Bregal Partners
Ares Capital served as sole lead arranger, sole bookrunner and administrative agent for $800 million of senior secured credit facilities to support the deleveraging recapitalization of American Seafoods. The transaction was sponsored by Bregal Partners, as well as Pacific Seafood Group and other industry investors.
American Seafoods is one of the largest seafood companies in the U.S. in terms of revenue and volume.
Nivel / Kelso & Co.
Ares Capital served as administrative agent, joint lead arranger and joint bookrunner for a $215 million senior secured credit facility to support a refinancing and the acquisition of Madjax by Nivel, a Kelso portfolio company.
Georgia-based Madjax distributes wholesale golf cart accessories to a growing network of dealers primarily in the Northeast and Southeast U.S. Nivel is a value-added distributor and designer of aftermarket golf cart parts and accessories sold to over 8,000 customers, including golf cart dealers and do-it-yourself consumers.
Dental Care Alliance / Harvest Partners
Ares Capital served as joint lead arranger, joint bookrunner and syndication agent for a $190 million senior secured credit facility to support the acquisition of Dental Care Alliance by Harvest Partners. Dental Care Alliance is one of the largest multi-branded dental support organizations in the U.S.
Sarasota, FL-based Dental Care Alliance supports a network of 157 practices across eight states in the Midwest, Mid-Atlantic and Southeast U.S. Dental Care Alliance affiliated practices provide a full suite of dental services, including general dentistry, hygiene, pediatric dentistry, orthodontics, endodontics, periodontics and oral surgery.
LBP Manufacturing / Pritzker Group Private Capital
Ares Capital served as the agent, joint lead arranger, bookrunner and syndication agent for a $146 million senior secured credit facility to support the acquisition of LBP Manufacturing by Pritzker Group Private Capital.
Cicero, IL-based LBP is a manufacturer of paper and corrugated foodservice packaging serving quick service restaurants, convenience stores and foodservice distributors.
CIBT / ABRY Partners
Ares Capital served as co-lead arranger and co-bookrunner for a $26.4 million incremental senior secured delayed draw term loan to support the acquisition pipeline of CIBT, an ABRY Partners portfolio company.
McLean, VA-based CIBT is a global provider of visa and passport services. CIBT provides travel-related services to Fortune 500 companies as well as the leading travel management companies, tour operators, humanitarian organizations, and cruise line clients operating in more than 30 locations globally.
Primexx Energy Partners
Ares Capital served as administrative agent for a $125 million second lien term loan to support the refinancing of Primexx Energy Partners.
The company is an independent oil and gas operator, engaged in the acquisition, development and production of oil and natural gas reserves with assets in Texas and Oklahoma, including the Southern Delaware Basin.
Grant Wind Holdings II / Apex Clean Energy
Ares Capital served as administrative agent and lead arranger for a $23.4 million holding company term loan to support construction of the Grant Wind Project, a wind power generation facility project developed by Apex Clean Energy.
Grant Wind is a 152-MW wind power generation facility under construction in Grant County, Oklahoma. Apex is managing construction and will manage the asset during operations.
“In the third quarter, we continued to benefit from our scale and capital markets capabilities, which position us well to offer a complete capital structure solution to our clients,” said Kipp deVeer, chief executive officer of Ares Capital. “Our strong direct origination and syndication network allowed us to complete a variety of new investments for companies with a broad range of financing needs.”