Ares Management Corporation Announces U.S. Direct Lending Origination Activity for Second Quarter and Last Twelve Months
28 Juli 2022 - 12:30PM
Business Wire
Approximately $5.9 Billion in New Commitments
Closed in the Second Quarter and Approximately $31.8 Billion closed
in the Last Twelve Months Ended June 30, 2022
Ares Management Corporation announced today that funds managed
by its Credit Group (collectively “Ares”) closed approximately $5.9
billion in U.S. direct lending commitments across 58 transactions
during the second quarter of 2022 and approximately $31.8 billion
in direct lending commitments across 259 transactions in the last
twelve-month period ended June 30, 2022. In addition, Ares also
acquired a portfolio of approximately $2.4 billion of middle market
loans during the second quarter. This compares to the $9.0 billion
in commitments closed on 77 transactions during the second quarter
of 2021 and approximately $21.8 billion in commitments on 221
transactions in the twelve-month period ended June 30, 2021. Below
is a description of selected transactions that Ares closed during
the second quarter.
AffiniPay / TA Associates
Ares served as the administrative agent and sole lead arranger
for a senior secured credit facility to support AffiniPay’s
acquisition of MyCase. AffiniPay is a market leader in professional
services payments serving legal, accounting, architectural,
engineering and construction firms.
American Technologies, Inc. / TSG Consumer Partners
Ares served as the administrative agent for a senior secured
credit facility to support TSG Consumer Partners’ growth plans for
American Technologies, Inc (ATI). ATI is a leading disaster
recovery firm that provides a wide range of restoration,
remediation and reconstruction services across a spectrum of
industries and end markets.
Beeline / Stone Point Capital
Ares served as the joint lead arranger and joint bookrunner for
a senior secured credit facility to support Stone Point Capital’s
acquisition of Beeline. Beeline is a leading provider of extended
workforce management software supporting global enterprises.
Bottomline Technologies / Thoma Bravo
Ares served as the administrative agent and joint lead arranger
for a senior secured credit facility to support Thoma Bravo’s
acquisition of Bottomline Technologies. Corporations and banks rely
on Bottomline for domestic and international payments, efficient
cash management, automated workflows for payment processing and
bill review, and state of the art fraud detection, behavioral
analytics and regulatory compliance solutions.
Crete Mechanical Group / Ridgemont Equity Partners
Ares served as the administrative agent, joint lead arranger and
sole bookrunner for a senior secured credit facility to support
Ridgemont Equity Partners’ growth plans for Crete Mechanical Group
(CMG). CMG is a leading provider of commercial HVAC, electrical,
plumbing and building automation services to industrial,
multi-family, government, healthcare, education and other end
markets.
Foundation Risk Partners / Warburg Pincus
Ares served as the administrative agent, joint lead arranger and
joint bookrunner for a senior secured credit facility to support
Warburg Pincus’ growth plans for Foundation Risk Partners (FRP).
FRP is a leading national insurance broker, providing property
& casualty and employee benefits services primarily to
middle-market commercial and personal clients.
Kaseya / Insight Partners
Ares served as the joint lead arranger and joint book runner for
a senior secured credit facility to support Kaseya’s acquisition of
Datto, Inc. Kaseya is a premier provider of unified IT management
and security software for managed service providers and small to
medium-sized businesses.
Mimecast / Permira Advisers
Ares served as the administrative agent and joint lead arranger
for a senior secured credit facility to support Permira Advisors’
acquisition of Mimecast. Mimecast is a leading provider of
next-generation cybersecurity software focused on e-mail security
for businesses.
Premise Health / OMERS Private Equity
Ares served as the administrative agent, joint lead arranger,
and joint lead bookrunner for a senior secured credit facility to
support Premise Health, an existing portfolio company of OMERS
Private Equity. Premise Health is a leading provider of
employer-sponsored healthcare, operating 850+ onsite health clinics
and pharmacies in 45 states to serve blue-chip customers across a
diverse range of end-markets.
Woodstream / Bansk Group
Ares served as the administrative agent, joint lead arranger and
joint bookrunner for a senior secured credit facility to support
Bansk Group’s growth plans for Woodstream. Woodstream manufactures,
designs, and markets pest control and animal 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 offering clients complementary
primary and secondary investment solutions across the credit,
private equity, real estate and infrastructure asset classes. We
seek to provide flexible capital to support businesses and create
value for our stakeholders and within our communities. By
collaborating across our investment groups, we aim to generate
consistent and attractive investment returns throughout market
cycles. As of June 30, 2022, Ares Management Corporation's global
platform had approximately $334 billion of assets under management,
with over 2,300 employees operating across North America, Europe,
Asia Pacific and the Middle East. For more information, please
visit www.aresmgmt.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220727005862/en/
Investor Relations: Carl Drake, 888-818-5298
cdrake@aresmgmt.com or John Stilmar, 888-818-5298
jstilmar@aresmgmt.com Media: Priscila Roney, 212-808-1185
media@aresmgmt.com
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