Ares Management Corporation provided details on certain new financing commitments made across its U.S. direct lending strategies. Funds managed by Ares Management Corporation’s Credit Group (collectively “Ares”) closed approximately $9.0 billion in commitments across 77 transactions during the second quarter of 2021 and approximately $21.8 billion in commitments across 221 transactions in the last twelve-month period ended June 30, 2021. This compares to the $1.7 billion in commitments closed across 24 transactions during the second quarter of 2020 and approximately $12.3 billion in commitments across 174 transactions in the twelve-month period ended June 30, 2020.
Below is a description of selected transactions that Ares closed during the second quarter.
DecoPac / Kohlberg & Co.
Ares served as the administrative agent and sole lead arranger for a senior secured credit facility to support Kohlberg & Co.’s acquisition of DecoPac. DecoPac is a leading supplier of cake decorations and related products to professional cake decorators and bakeries.
Global Healthcare Exchange / Temasek
Ares served as the administrative agent and lead arranger for a senior secured credit facility to support Global Healthcare Exchange’s (“GHX”) strategic plans. GHX is a leading provider of cloud-based technology and services used for supply chain management by healthcare providers and suppliers.
High Street Insurance Partners / Abry Partners
Ares served as the administrative agent, lead arranger and bookrunner for a senior secured credit facility and invested preferred and common equity to support Abry Partners’ acquisition of High Street Insurance Partners. High Street is a full service independent insurance brokerage firm.
Insightful Science / Insight Partners
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Insightful Sciences’ acquisition of Dotmatics. Insightful Science is a life sciences software company that digitally connects researchers to their ideas and data, advancing the discovery process.
Mavis Tire Express Services Corp. / BayPine Partners and TSG Consumer Partners
Ares served as joint lead arranger and joint bookrunner for a senior secured credit facility to support BayPine and TSG’s acquisition of Mavis. Mavis is a leading independent tire dealer and automotive aftermarket service provider.
Nivel Parts & Manufacturing / Morgan Stanley Private Equity
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Morgan Stanley Private Equity’s acquisition of Nivel Parts. Nivel is a market-leading manufacturer and distributor of aftermarket parts for personal transportation vehicles (“PTVs”), utility terrain vehicles (“UTVs”), and heavy-duty equipment.
Osmose Utilities Services, Inc. / EQT Partners
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support a refinancing of Osmose’s indebtedness. Osmose is a leading provider of critical inspection, maintenance and restoration services to transmission and distribution infrastructure throughout the U.S.
Scholl’s Wellness Company / Yellow Wood Partners
Ares served as the administrative agent, joint lead arranger and joint bookrunner for an incremental senior secured credit facility to support the acquisition of the brand’s international business, Scholl. Scholl’s Wellness Company is a leading footcare brand focused on insoles, custom-fit orthotics and skin treatment categories.