Ares Commercial Finance provided a $30 million senior secured revolving line of credit to Shapiro Metals. Proceeds from the financing enabled the company to refinance existing indebtedness and will provide additional liquidity for working capital and customer expansion.
Schottenstein affiliates Second Avenue Capital Partners and SB360 Capital Partners, along with Ares Commercial Finance, closed a $112 million senior secured revolving credit facility and term loan for Backcountry, a specialty retailer of outdoor gear and apparel.
Ares Commercial Finance provided a $30 million senior secured revolving line of credit to InterDesign. Proceeds from the financing enabled the company to refinance existing indebtedness and will provide additional capital, liquidity and flexibility.
Ares Commercial Finance provided a $25 million senior secured revolving line of credit to Pegasus Home Fashions. Proceeds from the financing enabled Pegasus to refinance existing indebtedness and will provide additional capital for working capital purposes.
Ares Commercial Finance has provided a senior secured revolving line of credit to Oats Overnight. The proceeds of this transaction were used to refinance existing debt and for ongoing working capital support.
Ares Commercial Finance (ACF) marked 10 years as the commercial finance platform of Ares Management. Through the years, ACF has expanded the team to over 40 full time employees, increased its footprint to eight offices and enhanced its product suite.
Ares Commercial Finance provided a $25 million senior secured revolving line of credit to MAV Holdco, a Toronto-based company that owns brands in the the hair care, face and body care beauty products space.
Ares Commercial Finance expanded its presence in Michigan by appointing Victor Verazain managing director for the company’s business development and underwriting teams in the state. In his role, he will work to support the Ares platform and its product suite, including asset-based lending and equipment financing.
Ares Commercial Finance provided a senior secured revolving line of credit to a decorative lighting distributor, which will use proceeds from the transaction to support its working capital needs and refinance a portion of the its existing debt.
Ian Maccubbin joined Ares Commercial Finance’s business development and underwriting teams as a principal. Maccubbin joined Ares Commercial Finance with 18 years of experience in the financial industry, most recently as a principal on the Carlyle Group’s private credit team.