Headline of release dated March 05, 2015, should read: Senior
Secured Loan Program Closes $1.4 Billion in Commitments During the
Fourth Quarter of 2014 (instead of Senior Secured Loan Program
Closes $1.4 Million in Commitments During the Fourth Quarter of
2014).
The corrected release reads:
SENIOR SECURED LOAN PROGRAM CLOSES $1.4
BILLION IN COMMITMENTS DURING THE FOURTH QUARTER OF 2014
The Senior Secured Loan Program (SSLP), jointly managed by an
affiliate of Ares Capital Corporation (“Ares Capital”) and an
affiliate of GE Capital, announced that during the fourth quarter
of 2014 it closed 12 financing transactions, including refinancings
of existing portfolio companies, totaling $1.4 billion. Since
January 1, 2010, the SSLP has committed approximately $18.2 billion
to middle market borrowers, including $4.0 billion across 31
transactions in the fiscal year ended December 31, 2014.
Below is a description of seven of the transactions that closed
during the fourth quarter.
Athletico Physical Therapy / Harvest Partners
GE Capital Markets and Ares Capital served as joint lead
arrangers and joint bookrunners in a $420.0 million senior secured
term loan provided by the SSLP and Ares Capital to support the
acquisition of Accelerated Rehabilitation Centers by Athletico
Physical Therapy, an existing Harvest Partners portfolio company.
Accelerated Rehabilitation Centers is a premier provider of
outpatient rehabilitation services.
Excelligence Learning Corporation / Brentwood Associates
GE Capital Markets and Ares Capital served as joint lead
arrangers and joint bookrunners in a $180.0 million senior secured
term loan provided by the SSLP to support the acquisition of
Excelligence Learning Corporation by Brentwood Associates.
Excelligence is a leading full-line producer and distributor of
high-volume, consumable and non-consumable education products.
Argotec / Wind Point Partners
GE Capital Markets and Ares Capital served as joint lead
arrangers and joint bookrunners in a $93.0 million senior secured
term loan provided by the SSLP to support a dividend
recapitalization of Argotec, an existing Wind Point Partners
portfolio company. Argotec is a supplier of custom engineered,
high-performance, polyurethane film and sheet for a wide variety of
critical applications.
Flinn Scientific / Windjammer Capital Investors
GE Capital Markets and Ares Capital served as joint lead
arrangers and joint bookrunners in a senior secured term loan
provided by the SSLP and Ares Capital to support the acquisition of
Flinn Scientific by Windjammer Capital Investors. Flinn Scientific
is a leading value-added provider of science products, services and
resources serving the primary, secondary and higher education
markets.
Mavis Discount Tire / ONCAP
Ares Capital and GE Capital Markets served as joint lead
arrangers and joint bookrunners in a senior secured term loan and
delayed draw term loan provided by the SSLP to support the
acquisition of Mavis Discount Tire by ONCAP Management Partners.
Mavis is the largest independent tire retailer in New York State
and the sixth largest in the United States.
PetroChoice / Greenbriar Equity Group
GE Capital Markets and Ares Capital served as joint lead
arrangers and joint bookrunners in a senior secured term loan
provided by the SSLP to support the acquisitions of LubriCorp, LLC
and PetroLiance, LLC by PetroChoice, an existing Greenbriar Equity
Group portfolio company. LubriCorp provides a broad range of
lubricants and specialty products for the passenger vehicle,
commercial and industrial segments. PetroLiance is a leading
distributor of petroleum products in Florida, Illinois, North
Carolina, Georgia, Ohio and South Carolina.
TriTech Holdings / Insight Venture Partners
GE Capital Markets and Ares Capital served as joint lead
arrangers and joint bookrunners in a senior secured term loan and
delayed draw term loan provided by the SSLP to support the
acquisition of TriTech Holdings by Insight Venture Partners.
TriTech provides products and services to public safety agencies of
all sizes and types, with an end-to-end product suite designed to
meet the needs of any agency.
About Senior Secured Loan Program
The Senior Secured Loan Program was formed in December 2007 to
invest in the senior secured debt of middle-market companies. Its
members are comprised of Ares Capital Corporation and GE Global
Sponsor Finance LLC. The program is co-managed by GE Commercial
Finance Investment Advisory Services LLC and Ares Capital
Management LLC and transactions require approval by the individuals
appointed by the members of the SSLP. The SSLP has $11 billion of
available capital and can hold up to $350 million in a single
transaction for borrowers across a wide range of industry sectors.
The SSLP benefits borrowers by virtue of greater speed, simplicity
and certainty, with proven partners.
About Ares Capital Corporation
Ares Capital is a leading specialty finance company that
provides one-stop debt and equity financing solutions to U.S.
middle market companies, venture capital backed businesses, oil and
gas related businesses and power generation projects. Ares Capital
originates and invests in senior secured loans, mezzanine debt and,
to a lesser extent, equity investments through its national direct
origination platform. Ares Capital’s investment objective is to
generate both current income and capital appreciation through debt
and equity investments primarily in private companies. Ares Capital
has elected to be regulated as a business development company, and
is externally managed by a subsidiary of Ares Management, L.P.
(“Ares Management”) (NYSE:ARES). Ares Management is a publicly
traded, leading global alternative asset manager with approximately
$86 billion of assets under management as of December 31, 2014, pro
forma for the acquisition of Energy Investors Funds, which closed
on January 1, 2015. For more information, visit
www.arescapitalcorp.com. However, the contents of such website are
not and should not be deemed to be incorporated by reference
herein.
About GE
GE (NYSE:GE) imagines things others don’t, builds things others
can’t and delivers outcomes that make the world work better. GE
brings together the physical and digital worlds in ways no other
company can. In its labs and factories and on the ground with
customers, GE is inventing the next industrial era to move, power,
build and cure the world. For more information, visit
www.ge.com
About GE Capital
GE Capital offers customers around the globe an array of
financial products, services and insights to help them grow their
businesses. For more information, visit www.gecapital.com or follow
company news via Twitter (@GECapital).
About GE Antares Capital
GE Antares is a unit of GE Capital. With offices in Atlanta,
Chicago, Los Angeles, Toronto, New York, and San Francisco, GE
Antares is a leading middle market lender, offering a “one-stop”
source for GE’s lending and other services offered to middle market
private equity sponsors. GE Antares was recognized by Private Debt
Investor and Private Equity International as 2013 Lender of the
Year, North America and Mid-Cap Lender of the Year, North America,
respectively. For more information, visit www.geantares.com.
Ares Capital CorporationCarl Drake, (888)
818-5298cdrake@aresmgmt.comorJana Markowicz, (888)
818-5298markowicz@aresmgmt.comorGE Antares CapitalAlexandra Abrams,
(312) 441-7356alexandra.abrams@ge.comorGE Capital, AmericasTara
Lambropoulos, (312) 441-7854tara.lambropoulos@ge.com