Daily News: May 5, 2017

Ares Capital Provides More Than $850MM in Q1/17


Ares Capital provided more than $850 million in new financing commitments during Q1/17. Below is a description of six sample transactions that closed during that period.

Ares served as the administrative agent for a $125 million senior loan to support the recapitalization and growth of Vista Sand, which includes an accordion feature to accommodate additional potential growth. Vista Sand is a privately-held sand processor and distributor to the oil and gas industry.

Ares served as the administrative agent and joint lead arranger for a $62 million senior secured credit facility to support the acquisition of Factory Direct Warehouse by Diversified Foodservice Supply, an existing New Mountain Capital portfolio company.

Ares served as bookrunner, lead arranger and administrative agent for both a first lien term loan and a second lien term loan to support the acquisition of Planview by Thoma Bravo. Planview is a market-leading provider of project and portfolio management software.

Ares served as administrative agent, and Ares Capital Management served as joint lead arranger and joint bookrunner for a senior secured credit facility in support of the acquisition of Consumer Safety Technology (dba Intoxalock) by Welsh, Carson, Anderson & Stowe.

Ares Capital served as a lead investor for a senior secured credit facility to support the acquisition of Dorner Holdings by EQT Mid Market US. Dorner is a leading manufacturer of precision unit conveyors. The company’s specialized conveyor systems play critical roles in customers’ manufacturing and packaging lines and are used in sensitive applications with high precision and/or sanitary requirements.

Ares Capital served as administrative agent and sole lender for the senior secured credit facility to support the acquisition of Cozzini Bros by Birch Hill Equity Partners. Cozzini Bros is a provider of subscription-based commercial knife and cutlery sharpening services and related products.