Ares Management Corporation Highlights Fourth Quarter and Full Year US Direct Loan Commitments
LOS ANGELES–(COMMERCIAL THREAD) – Ares Management Corporation (NYSE: ARES) provides details on certain new funding commitments made as part of its direct lending strategies in the United States. Funds managed by the credit group of Ares Management Corporation (collectively “Ares”) closed approximately $ 7.3 billion of commitments on 68 transactions during the fourth quarter and approximately $ 13.7 billion of commitments out of 163 transactions for the whole of 2020.
Below is a description of the selected transactions that Ares closed during the fourth quarter.
Advarra / Genstar Capital
Ares served as administrative agent, senior arranger and associate bookrunner for a senior secured credit facility to support Genstar Capital’s growth plans for Advarra. Advarra is a leading institutional review board that reviews clinical trials on behalf of pharmaceutical companies, contract research organizations, universities and hospital systems to ensure the protection of human subjects, in addition to offer a suite of software solutions focused on clinical trial management. .
Arrowhead / Riverside Company Engineering Products
Ares served as administrative agent, principal arranger and associate bookrunner for a senior secured credit facility to support the recapitalization of Arrowhead Engineered Products and its future growth initiatives. Arrowhead is a leading supplier of non-discretionary and critical spare parts for a variety of off-road vehicles and equipment.
Capstone Logistics / HIG Capital
Ares served as the administrative agent, principal arranger and bookrunner of a senior secured credit facility to support the acquisition of Capstone Logistics by HIG Capital. Capstone is a third-party logistics provider of services and solutions for warehousing and distribution centers.
Manna Pro Products / The Carlyle Group
Ares acted as senior arranger and associate bookrunner on a senior secured credit facility to support the acquisition of Manna Pro Products by The Carlyle Group. Manna Pro is a leading manufacturer and supplier of specialty nutrition and care products for a wide variety of animals.
National Car Wash Solutions / Berkshire Partners
Ares served as administrative agent, senior arranger and associate bookrunner for a senior secured credit facility to support Berkshire Partners’ acquisition of National Carwash Solutions (NCS). NCS is a leading supplier of car wash equipment, services and solutions to customers in North America.
Rawlings Sporting Goods Company / Seidler Equity Partners
Ares served as sole administrative agent and arranger for a senior secured credit facility to support the acquisition of Easton Diamond Sports by Rawlings Sporting Goods Company. Rawlings and Easton are the world’s leading brands and manufacturers of premium baseball and softball equipment, including bats, gloves, balls and protective gear.
symplr / Clearlake Capital
Ares served as administrative agent, arranger and associate bookrunner on a senior secured credit facility to support the acquisition of TractManager by symplr, a Clearlake Capital holding company. symplr and TractManager are leading providers of healthcare governance, risk management and compliance software.
TurnPoint Services / OMERS Private Equity
Ares served as administrative agent, sole principal arranger and sole bookrunner of a senior secured credit facility to support the acquisition of TurnPoint Services by OMERS Private Equity. TurnPoint is a leading provider of residential services, including heating, ventilation and air conditioning (“HVAC”), as well as plumbing and electrical.
The Benecon Group / TA Associates
Ares served as the administrative agent, principal arranger and bookrunner of a senior secured credit facility to support the acquisition of The Benecon Group by TA Associates. Benecon is a leading developer and manager of self-funded medical benefit programs.
Woodstream Corporation / Bansk Group
Ares served as administrative agent, senior arranger and bookrunner for a $ 450 million senior term loan to support the acquisition of Woodstream Corporation by the Bansk Group. Woodstream manufactures, designs and markets pest and animal control products such as rodent traps, insect traps and bird feeders in the United States, Canada and Europe.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating integrated groups in credit, private equity, real estate and strategic initiatives. Ares Management’s investment groups work together to deliver innovative investment solutions and consistent and attractive investment returns to fund investors throughout market cycles. As of December 31, 2020, Ares Management’s global platform had approximately $ 197 billion in assets under management with more than 1,450 employees operating in North America, Europe and Asia-Pacific. For more information, please visit www.aresmgmt.com.