The Senior Secured Loan Program (SSLP), jointly managed by an affiliate of Ares Capital and an affiliate of GE Capital, announced that during the Q1/15 it closed six financing transactions, including refinancings of existing portfolio companies, totaling over $1.0 billion. Since January 1, 2010 through March 31, 2015, the SSLP has committed approximately $19.2 billion to middle market borrowers.
Ares Capital and GE Capital Markets served as joint lead arrangers and joint bookrunners in a $194 million senior secured term loan provided by the SSLP to support the acquisition of Diversified Foodservice Supply by a fund managed by New Mountain Capital. Diversified Foodservice Supply is a leading distributor of maintenance, repair and operations parts, supplies, and equipment to the foodservice industry. The company currently operates through multiple brands including AllPoints Foodservice Parts & Supplies, Tundra Restaurant Supply, Franklin Machine Products, Mill Hardware and Restaurant Parts & More.
GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a $161.5 million senior secured term loan provided by the SSLP to support the acquisition of Gehl Foods by Wind Point Partners. Gehl Foods is a Germantown, Wisconsin-based maker of ready-to-serve, real dairy products. The company uses an advanced aseptic process to eliminate microorganisms that cause dairy foods to spoil and at the same time locks in freshness and taste.
Ares Capital and GE Capital Markets served as joint lead arrangers and joint bookrunners in a $173.9 million senior secured term loan provided by the SSLP to support a refinancing of Industrial Service Solutions. Industrial Service Solutions is a uniquely positioned industrial services holding company of geographically diverse but complementary independent service companies that offer field services, shop services and supply services to a wide variety of end user markets.
GE Capital Markets and Ares Capital served as joint lead arrangers and joint bookrunners in a senior secured credit facility provided by the SSLP to support the dividend recapitalization of Zywave, an Aurora Capital Group portfolio company. Zywave is the leading provider of SaaS technology solutions for the employee benefits and property and casualty insurance distribution industry. The company’s solutions include technology-enabled content and communication, agency automation, and business intelligence and analytics, designed to help insurance brokers of all sizes gain profitable market share.