Ares Leads $1.6 Billion Debt Financing to Support Suave Brands and Elida Beauty Merger to Create Evermark

NEW YORK--(BUSINESS WIRE)--Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today that Ares Credit funds served as the administrative agent on $1.6 billion in debt financing to support the merger of two Yellow Wood Partners portfolio companies, Suave Brands Company (“Suave Brands”) and Elida Beauty (“Elida”). The combined company, now called Evermark, LLC (“Evermark” or the “Company”), has launched as a leading global platform of iconic personal care brands.

Evermark builds upon the existing legacy of both Suave Brands and Elida with a brand portfolio comprising Suave, Q-tips and ChapStick as well as Pond's, Caress, St. Ives, Noxzema and TIGI, among others.

“We are pleased to lead the financing for the creation of Evermark, reflecting the scaled capital of Ares’ US Direct Lending platform and the strength of our consumer vertical,” said Karen De Castro, Partner in Ares Credit. “Evermark brings together two major personal care companies with a portfolio of strong household brands, and we look forward to working with the Company as it serves new and existing customers and expands upon its existing portfolio.”

“We appreciate Ares’ confidence in Evermark’s vision and the significant opportunities ahead,” said Tad Yanagi, Partner at Yellow Wood. “This strategic financing has supported the strong launch of our combined business and enhances our ability to further invest in product quality, innovation and accessibility as we continue to execute our long-term growth strategy.”

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2025, Ares Management Corporation's global platform had over $595 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

About Evermark, LLC

Evermark is a personal care platform backed by Yellow Wood Partners and home to a portfolio of iconic brands across hair care, skin care, body care, and personal essentials. Built to support brands that stand the test of time, Evermark combines brand-focused leadership, operational discipline, and long-term investment to drive sustainable growth. The brand portfolio includes Suave, ChapStick, Q-tips, Caress, St. Ives, Pond's, Noxzema, TIGI and more — brands with significant household penetration, broad retail distribution, and long-standing consumer trust.

About Yellow Wood

Yellow Wood Partners is a leading consumer focused private equity firm, which invests in both founder-owned consumer brands as well as legacy consumer brands. Based in Boston, Yellow Wood works with over 40 household global brands including ChapStick, Suave, Q-tips, Caress, Ponds and Dr. Scholl's. The firm uses its differentiated Consumer Operating DNA® investment and operating strategy to partner with founders and CPG companies to unlock brand value, scale and grow their businesses. For more information, please visit www.yellowwoodpartners.com.