Approximately $6.1 Billion in New Commitments
Closed in the Third Quarter and Approximately $20.6 Billion closed
in the Last Twelve Months Ended September 30, 2023
Ares Management Corporation announced today that funds managed
by its Credit Group (collectively “Ares”) closed approximately $6.1
billion in U.S. direct lending commitments across 53 transactions
during the third quarter of 2023 and approximately $20.6 billion in
direct lending commitments across 189 transactions in the last
twelve-month period ended September 30, 2023. Below is a
description of selected transactions that Ares closed during the
third quarter.
Absolute Software / Crosspoint Capital
Ares served as the administrative agent, joint lead arranger and
joint bookrunner for a senior secured credit facility to support
Crosspoint Capital’s acquisition of Absolute Software. Absolute
Software is a leading provider of self-healing endpoint management
and secure access solutions that serves a variety of end markets,
including government, education, healthcare, and professional &
financial services.
ATI Restoration / TSG Consumer Partners
Ares served as the administrative agent for a senior secured
credit facility to support TSG Consumer Partners’ continued growth
plans for ATI Restoration. ATI is a leading provider of mitigation
and reconstruction services within the disaster recovery market,
serving both residential and commercial customers.
Finastra / Vista Equity Partners
Ares served as a lender for a senior secured credit facility to
support Vista’s continued growth plans for Finastra. Finastra is a
global software provider serving the financial services
industry.
Hanger Inc. / Patient Square Capital
Ares served as the administrative agent, sole lead arranger and
sole bookrunner for an incremental senior secured credit facility
to support Patient Square Capital’s continued growth plans for
Hanger Inc. Hanger is a leading national provider of products and
services that assist in enhancing or restoring the physical
capabilities of patients with disabilities or injuries, providing
orthotic and prosthetic services for over 150 years.
Hyland Software / Thoma Bravo
Ares served as a lender for a senior secured credit facility to
support Thoma Bravo’s refinancing for Hyland. Hyland is a leading
independent content services platform and enterprise content
management provider enabling organizations and their customers to
capture, manage, access, ingest, index, and store content across a
diverse set of file types and use cases.
Keter & Waste Harmonics / TPG
Ares served as a joint lead arranger and bookrunner for an
incremental first lien term loan and revolving credit facility
upsize to support the continued growth plans and merger of Keter
(an existing TPG portfolio company) with Waste Harmonics. The
combined company is a leading provider of tech-enabled, outsourced
managed waste solutions.
Modigent / OMERS Private Equity
Ares served as the administrative agent, sole lead arranger and
sole bookrunner for a senior secured credit facility to support
OMERS Private Equity’s continued growth plans for Modigent.
Modigent is a leading commercial HVAC, plumbing and controls
systems services platform.
PracticeTek / Lightyear Capital, Greater Sum Ventures, Waud
Capital Partners
Ares served as the administrative agent, lead arranger, and book
runner for a senior secured credit facility to support
PracticeTek’s (Lightyear Capital and Greater Sum Ventures portfolio
company) merger with IPS (Waud Capital Partners portfolio company).
The combined company is a leading provider of software, payments,
and other tech-enabled solutions to retail healthcare
providers.
Prime Capital / Abry Partners
Ares served as the administrative agent for a senior secured
credit facility to support Abry Partners’ continued growth plans
for Prime Capital. Prime Capital is a wealth, retirement, and
financial wellness platform based in Kansas with over 50 offices
nationwide.
Priority Waste / TRP Capital Partners
Ares served as the administrative agent, lead arranger and
bookrunner for a senior secured credit facility to support TRP
Capital Partners’ continued growth plans for Priority Waste.
Priority Waste is a fast-growing waste management services provider
based in the Midwest.
Simtra BioPharma Solutions / Advent International &
Warburg Pincus
Ares served as the administrative agent, joint lead arranger and
joint bookrunner for a senior secured credit facility to support
Advent and Warburg Pincus’ formation of Simtra BioPharma Solutions.
Simtra is a leading independent customized aseptic fill-finish
contract manufacturer focused on complex parenteral (i.e.
injectable / infusion) branded drugs for the biopharmaceutical
industry.
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 September 30, 2023, Ares Management Corporation's
global platform had approximately $395 billion of assets under
management, with approximately 2,800 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/20231030448156/en/
Investor Relations: Carl Drake, 888-818-5298
cdrake@aresmgmt.com or Greg Mason, 888-818-5298 gmason@aresmgmt.com
or John Stilmar, 888-818-5298 jstilmar@aresmgmt.com
Media: Priscila Roney, 212-808-1185
media@aresmgmt.com
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