The Ares Management Credit Group closed 49 transactions during Q1/18 which totaled approximately $3 billion in commitments.
Below are brief description of nine transactions closed during the first quarter:
ACA Compliance Group / Starr Investment Holdings
Ares served as administrative agent, collateral agent, lead arranger and bookrunner on a senior secured credit facility to support the acquisition of ACA Compliance Group by Starr Investment Holdings. ACA provides risk management and technology solutions focused on regulatory compliance, performance, financial crime and cybersecurity to more than 2,800 clients.
Air Medical Group / KKR
Ares served as a lender on an unsecured term loan to support Air Medical Group’s acquisition of American Medical Response. Air Medical Group provides emergency air medical transportation services in the U.S.
Gehl Foods / Wind Point Partners
Ares served as administrative agent, lead arranger and bookrunner on a senior secured credit facility and bridge facility to support the add-on acquisition of California Natural Products and to refinance Gehl Foods’ existing capital structure. Gehl Foods is a producer of low-acid, aseptic food and beverage products including cheese sauces, pudding and dairy-based beverages. California Natural Products is a Tetra Pak-based producer of a wide range of aseptic foods, beverages and specialty ingredients.
Intoxalock / Welsh, Carson, Anderson & Stowe
Ares served as administrative agent, joint lead arranger and joint book runner on a senior secured credit facility to refinance the existing capital structure of Consumer Safety Technology d/b/a Intoxalock, a portfolio company of Welsh, Carson, Anderson & Stowe. Founded in 1992, Intoxalock is a provider of ignition interlock devices, which are breathalyzer units installed in a DUI offender’s vehicle as part of their sentencing requirements.
MB Aerospace / Blackstone Group
Ares served as administrative agent, collateral agent, sole lead arranger and sole bookrunner on a second lien term loan to support MB Aerospace’s add-on acquisition of Asian Compressor Technology Services and refinancing of existing credit facilities. MB Aerospace is a manufacturer of precision aero-engine components.
Ares served as administrative agent on the upsizing of the company’s first lien delayed draw term loan to support planned capital expenditures. OTG Management operates full service sit-down and quick-serve restaurants, bars, lounges and gourmet markets in U.S. airports under franchise names and proprietary brand names.
Ares served as lead arranger on a senior secured credit facility to support the acquisition of VIP Petcare by PetIQ. PetIQ is a distributor and manufacturer of veterinarian-grade pet prescription medications, over-the-counter flea and tick preventatives and health and wellness products for dogs and cats.
Upstream Rehabilitation / Revelstoke Capital Partners
Ares served as joint lead arranger and book runner on a first lien senior secured credit facility to support the acquisition of Drayer Physical Therapy Institute by Upstream Rehabilitation. Upstream Rehabilitation provides outpatient rehabilitation services, including free-standing physical therapy clinics and a member network of rehabilitation service providers.
Visual Edge Technology
Ares served as administrative agent, joint lead arranger and joint lead book runner on an incremental first lien term loan to support Visual Edge Technology’s growth and strategic initiatives. Visual Edge provides outsourced office solutions with a focus on printer and copier equipment, parts and supplies and service.