More than $1 Billion in New Commitments Closed
NEW YORK--(BUSINESS WIRE)--
Ares Capital Corporation (“Ares Capital” – NASDAQ:ARCC) is providing
additional details on its financing commitments closed during the second
quarter of 2014, which were included in Ares Capital’s earnings
announcement released yesterday. Financing commitments made by Ares
Capital totaled more than $1.0 billion in the second quarter.
“During the second quarter, we invested over $1 billion in 29 different
investments primarily in floating rate, senior loans of leading middle
market companies in a variety of industries, including consumer
products, healthcare and service industries,” said Kipp deVeer, Chief
Executive Officer of Ares Capital. “We also continued to remain active
providing growth capital and acquisition financing for our dynamic
Below is a description of two of the transactions that closed during the
totes»Isotoner Holdings Corporation / Freeman Spogli & Co. /
Ares Capital served as lead arranger, administrative agent, collateral
agent and bookrunner for an $80 million second lien term loan in support
of the acquisition of totes»Isotoner Holdings Corporation by Freeman
Spogli and Investcorp. totes»Isotoner is a designer, marketer and
distributor of rain, cold weather and footwear products and related
FeraDyne Outdoors, LLC / Snow Phipps Group
Ares Capital served as lead arranger, administrative agent and revolver
agent for a senior secured credit facility to support the acquisition of
FeraDyne Outdoors, LLC by Snow Phipps Group. Headquartered in
Cartersville, GA, FeraDyne is the world’s leading provider of branded
bowhunting and archery accessories.
About Ares Capital Corporation
Ares Capital is a leading specialty finance company that provides
one-stop debt and equity financing solutions to the U.S. middle market.
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 $77 billion of
assets under management as of March 31, 2014. For more information,
However, the contents of such website are not and should not be deemed
to be incorporated by reference herein.
totes»Isotoner Corporation, headquartered in Cincinnati, Ohio, is the
leading designer, marketer and distributor of high-quality branded rain
products (umbrellas), cold weather products (gloves, hats and scarves),
footwear (slippers and sandals) and related accessories. In addition to
its market leading position in the United States, totes»Isotoner has a
strong international presence, particularly in France, the United
Kingdom and Canada. The totes and Isotoner brands are among the most
recognizable and trusted rain and cold weather accessory brands
globally. For more information, visit www.totes-isotoner.com.
About Freeman Spogli & Co.
Freeman Spogli is a private equity firm dedicated exclusively to
investing and partnering with management in consumer-related and
distribution companies. Since its founding in 1983, Freeman Spogli has
invested approximately $3.3 billion of equity in 50 portfolio companies
with aggregate transaction values of $20 billion. Freeman Spogli & Co.
has offices in Los Angeles and New York. For more information, visit www.freemanspogli.com.
Investcorp is a leading provider and manager of alternative investment
products and is publicly traded on the Bahrain Bourse (INVCORP). The
Investcorp Group has offices in New York, London, Bahrain, Saudi Arabia
and Abu Dhabi. Investcorp has three business areas: corporate investment
in the US, Europe and the Gulf, real estate investment in the US and
global hedge funds. Investcorp has approximately $10.5 billion in total
assets under management. For more information, visit www.investcorp.com.
About FeraDyne Outdoors, LLC
Headquartered in Cartersville, Ga., FeraDyne designs and manufactures a
range of innovative category-leading products for today’s bowhunters.
The company offers an extensive portfolio of innovative,
patent-protected products such as broadheads, nocks and releases, all of
which are designed to enhance the performance of archers in the field
and on the range. For more information, contact FeraDyne Outdoors, 110
Beasley Road, Cartersville, GA 30120, or call 866-387-9307. For more
information on FeraDyne brands, visit www.ragebroadheads.com,
About Snow Phipps
Snow Phipps is a private equity firm focused on middle-market control
investments. With $1.5 billion of assets currently under management,
Snow Phipps targets platform companies with enterprise values ranging
from $100 million to $500 million. The firm utilizes an operating
partner model to invest across select industries and seek value creation
through an operationally focused strategy. For more information, visit www.snowphipps.com.
Ares Capital Corporation
Carl Drake, 888-818-5298
Source: Ares Capital Corporation