Ares Management Corporation Announces U.S. Direct Lending Origination Activity for the Second Quarter and Last Twelve Months 2023

Rhea-AI Summary

Ares Management Corporation: $4.1B in New Commitments Closed in Q2 2023. $20.2B in the Last 12 Months Ended June 30, 2023. Selected transactions include support for Apex Service Partners, Certified Power, Convera, Mr Greens, Northwinds Services Group, ProService, Suave, The SEER Group, Towne Park, and Vobev.

Approximately $4.1 Billion in New Commitments Closed in the Second Quarter and Approximately $20.2 Billion closed in the Last Twelve Months Ended June 30, 2023

NEW YORK--(BUSINESS WIRE)-- Ares Management Corporation announced today that funds managed by its Credit Group (collectively “Ares”) closed approximately $4.1 billion in U.S. direct lending commitments across 51 transactions during the second quarter of 2023 and approximately $20.2 billion in direct lending commitments across 181 transactions in the last twelve-month period ended June 30, 2023. Below is a description of selected transactions that Ares closed during the second quarter.

Apex Service Partners / Alpine Investors

Ares served as a lender for an incremental senior secured credit facility to support Alpine Investors’ continued growth plans for Apex Service Partners. Apex Service Partners is a market-leading home services business providing critical residential HVAC, plumbing, and electrical maintenance and repair services throughout the United States.

Certified Power / Brinkmere Capital Partners

Ares served as the administrative agent and lead arranger and bookrunner for a senior secured credit facility to support Brinkmere Capital’s continued growth plans for Certified Power. Certified Power Inc is a leading value-added distributor of engineered fluid power and motion control solutions for mobile and industrial applications.

Convera / The Baupost Group & Goldfinch Partners

Ares served as the administrative agent for an incremental senior secured credit facility to support The Baupost Group and Goldfinch Partners’ continued growth plans for Convera. Convera (fka Western Union Business Solutions) is one of the largest non-bank providers of cross-border business payment and foreign exchange solutions in the world.

Mr Greens / Sterling Investment Partners

Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility to support Sterling Investment Partners’ acquisition of Mr Greens. Headquartered in Miami, Florida, Mr Greens is a rapidly growing distributor of produce, dairy, and specialty food items to the restaurant and hospitality industries in Florida and Texas, including many of the marquee restaurant groups in its active markets.

Northwinds Services Group / TruArc Partners, LP

Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility to support TruArc Partners’ recapitalization of Northwinds Services Group. Northwinds is a leading HVAC and plumbing services provider focused on serving both residential and commercial customers in the Northeast, Mid-Atlantic and Midwest.

ProService / Silver Lake Partners

Ares served as the administrative agent, lead arranger and bookrunner to support Silver Lake’s acquisition of ProService. ProService is a leading specialty provider of comprehensive HR outsourcing services, helping SMB employers manage time-consuming and complex HR tasks such as payroll, benefits, insurance, compliance, administrative, and risk management services.

Suave / Yellow Wood Partners

Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Yellow Wood Partners’ acquisition of Suave. Suave is a leading personal care company with products across hair care, skin cleansing, deodorant, and skincare.

The SEER Group / Genstar Capital

Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Genstar Capital’s acquisition of the SEER Group. SEER provides residential and commercial HVAC, electrical and plumbing services in the greater Pacific Northwest region, with a base of 30+ brands and hundreds of technicians.

Towne Park / Greenbriar Equity Group

Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Greenbriar Equity Group’s acquisition of Towne Park. Towne Park is a leading provider of tech-enabled parking management and hospitality services.

Vobev

Ares served as the administrative agent for a senior secured credit facility to support Vobev’s continued growth plans. Vobev is a vertically integrated aluminum beverage can producer and filler in North America.

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, 2023, Ares Management Corporation's global platform had approximately $378 billion of assets under management, with over 2,600 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

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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

Source: Ares Management Corporation

FAQ

What is the total amount closed by Ares Management Corporation in the second quarter of 2023?

Ares Management Corporation closed approximately $4.1 billion in U.S. direct lending commitments across 51 transactions in Q2 2023.

What is the total amount closed by Ares Management Corporation in the last twelve months ended June 30, 2023?

Ares Management Corporation closed approximately $20.2 billion in direct lending commitments across 181 transactions in the last twelve months ended June 30, 2023.

Which companies received support from Ares Management Corporation in the second quarter?

Selected transactions include support for Apex Service Partners, Certified Power, Convera, Mr Greens, Northwinds Services Group, ProService, Suave, The SEER Group, Towne Park, and Vobev.