NEW YORK--(BUSINESS WIRE)--Ares Capital Corporation (NASDAQ:ARCC) is providing additional details on its new financing commitments closed during the first quarter, which totaled more than $850 million across 28 transactions.
Below is a description of six transactions that closed during the first quarter.
Ares Capital Corporation served as the administrative agent for a $125.0 million senior loan to support the recapitalization and growth of Vista Sand, which includes an accordion feature to accommodate additional potential growth. Vista Sand is a privately-held sand processor and distributor to the oil and gas industry, with operations strategically located near major oil and gas basins in Texas.
DFS Holding Company / New Mountain Capital
Ares Capital Corporation served as the administrative agent and joint lead arranger for a $62.0 million senior secured credit facility to support the acquisition of Factory Direct Warehouse by Diversified Foodservice Supply, an existing New Mountain Capital portfolio company. Headquartered in Mount Prospect, IL, DFS is a leading distributor of mission critical maintenance, repair and operation parts, supplies and equipment to the highly fragmented foodservice parts, supplies and equipment industry.
Planview / Thoma Bravo
Ares Capital Corporation served as book runner, lead arranger and administrative agent for both a first lien term loan and a second lien term loan to support the acquisition of Planview by Thoma Bravo. Headquartered in Austin, Texas, Planview is a market-leading provider of project and portfolio management software with a primary focus on IT departments.
Intoxalock / Welsh, Carson, Anderson & Stowe
Ares Capital Corporation served as administrative agent, and Ares Capital Management served as joint lead arranger and joint book runner for a senior secured credit facility in support of the acquisition of Consumer Safety Technology, Inc. (d/b/a “Intoxalock”) by Welsh, Carson, Anderson & Stowe. Founded in 1992, Intoxalock is a leading provider of ignition interlock devices, which are breathalyzer units installed in a DUI offender’s vehicle as part of their sentence as required by a number of states.
Dorner Holdings / EQT Mid Market US
Ares Capital Corporation served as a lead investor for a senior secured credit facility to support the acquisition of Dorner Holdings by EQT Mid Market US. Founded in 1966 and headquartered in Hartland, WI, Dorner is a leading manufacturer of precision unit conveyors. The company’s specialized conveyor systems play critical roles in customers’ manufacturing and packaging lines and are used in sensitive applications with high precision and/or sanitary requirements.
Cozzini Bros / Birch Hill Equity Partners
Ares Capital Corporation served as administrative agent and sole lender for the senior secured credit facility to support the acquisition of Cozzini Bros by Birch Hill Equity Partners. Cozzini Bros, founded in 1904 and headquartered in Des Plaines, IL, is a leading provider of subscription-based commercial knife and cutlery sharpening services and related products to customers ranging in scale from local single location restaurants to large national chains and nationwide kitchen services organizations.
About Ares Capital Corporation
Ares Capital is a leading specialty finance company that provides one-stop debt and equity financing solutions to U.S. middle market companies, venture capital backed businesses and power generation projects. Ares Capital originates and invests in senior secured loans, mezzanine debt and, to a lesser extent, equity investments through its national direct origination platform. Ares Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments primarily in private companies. Ares Capital has elected to be regulated as a business development company (“BDC”) and as of March 31, 2017, was the largest BDC by total assets and market capitalization. Ares Capital is externally managed by a subsidiary of Ares Management, L.P. (NYSE:ARES), a publicly traded, leading global alternative asset manager. For more information about Ares Capital, visit www.arescapitalcorp.com. However, the contents of such website are not and should not be deemed to be incorporated by reference herein.