Daily News: February 20, 2018

Ares Credit Group Totals $2.8B in 53 Transactions in Q4/017


During Q4/17, the Ares Management Credit Group closed new financing commitments in its U.S. direct lending strategies that totaled approximately $2.8 billion across 53 transactions.

In total, Ares closed more than $10.6 billion in commitments across 206 transactions in its U.S. direct lending strategies for the full year of 2017.

Eight transactions that funds managed by the Ares Credit Group closed during Q4/17 included:

  • BeyondTrust Software/Veritas Capital: Ares served as administrative agent, sole lead arranger and bookrunner for a unitranche credit facility to support the refinancing of BeyondTrust Software’s existing capital structure.
  • Cadence Aerospace/Arlington Capital: Ares served as administrative agent, joint lead arranger and bookrunner for a first lien credit facility to support the acquisition of Cadence Aerospace by Arlington Capital.
  • Foundation Risk Partners/Warburg Pincus: Ares served as administrative agent, lead arranger and joint bookrunner for the first lien and second lien credit facilities to support the growth of Foundation Risk Partners a national insurance broker.
  • Harvey Performance Company/Summit Partners: Ares served as administrative agent, joint lead arranger and bookrunner for a first lien credit facility as well as the administrative agent, sole lead arranger and bookrunner for a second lien credit facility to support the acquisition of Harvey Performance Company by Summit Partners.
  • ProService Hawaii / FFL Partners: Ares served as administrative agent, lead arranger and bookrunner for a senior secured credit facility to support the acquisition of ProService Hawaii by FFL Partners.
  • Sigma Electric Manufacturing/Argand Partners: Ares served as administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility in support of the refinancing of the company’s existing capital structure.
  • Varsity Brands/Charlesbank Capital Partners: Ares served as administrative agent, bookrunner and lead arranger for a second lien term loan to support the recapitalization of Varsity Brands, a manufacturer and supplier of team sports, athletic gear, recognition awards and graduation products.
  • VLS Recovery Services/Aurora Capital Partners: Ares served as administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support the acquisition of VLS Recovery Services by Aurora Capital Partners.