NEW YORK--(BUSINESS WIRE)--
Ares Capital Corporation (NASDAQ: ARCC) announced today that it is
providing additional details on three of its financing commitments
closed during the second quarter of 2013, which were included in this
morning’s previously released earnings announcement. Financing
commitments by Ares Capital in the second quarter totaled more than $1.2
billion.
“During the second quarter, we found more compelling investment
opportunities as market activity rebounded from depressed first quarter
levels,” said Kipp deVeer, President of Ares Capital. “We continue to
benefit from our deep relationships within the financial sponsor
community as well as our incumbent relationships and the growth capital
needs within our own portfolio.”
Below is a description of three select transactions closed during the
second quarter.
CSC ServiceWorks, Inc. / Pamplona Capital Management
Ares Capital served as documentation agent in a $325 million second lien
term loan in support of the acquisition of Coinmach Service Corporation
and AIR-serv Holdings Inc. by Pamplona Capital Management. Coinmach is
the largest supplier of outsourced laundry equipment services for
multi-family housing properties in the United States. AIR-serv is the
largest provider of pay air services for automobile tire inflation in
North America. The merger of the two companies formed CSC ServiceWorks,
Inc.
Tripwire,Inc. / Thoma Bravo, LLC
Ares Capital served as administrative agent, collateral agent and lead
arranger in a $175 million senior secured credit facility to support the
acquisition of nCircle Network Security Inc. by Tripwire, Inc., a
portfolio company of Thoma Bravo, LLC. Through this transaction, Ares
Capital increased its commitment to Tripwire by $85 million. Tripwire is
a leading provider of IT compliance and security software and nCircle is
a leading provider of IT vulnerability assessment software solutions.
Industrial Service Solutions / Bolder Capital
Ares Capital served as administrative agent, lead arranger and
bookrunner for an $85 million senior secured credit facility to support
the refinancing of Industrial Service Solutions, a portfolio company of
Bolder Capital. Ares Capital’s financing commitment also provides growth
capital to support future acquisitions. Industrial Service Solutions is
a uniquely positioned industrial services holding company of
geographically diverse but complementary independent service companies
that offer field services, shop services and supply services to a wide
variety of end user markets.
About Ares Capital Corporation
Ares Capital is a leading specialty finance company that provides
one-stop financing solutions to U.S. middle market companies and private
equity sponsors. The Company 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 wholly owned
subsidiary of Ares Management LLC. Ares Management is a global
alternative asset manager and a SEC-registered investment adviser with
approximately $66 billion of committed capital under management as of
June 30, 2013 and pro forma for the acquisition of AREA Property
Partners on July 1, 2013. For more information, visit
www.arescapitalcorp.
About CSC ServiceWorks, Inc.
CSC ServiceWorks is the leading provider of multi-family housing and
commercial laundry solutions and the industry leader in air-vending
services at convenience stores and gas stations. CSC’s family of
businesses includes Coinmach Corp., ASI Campus Laundry Solutions, SDI
Laundry Solutions, Appliance Warehouse of America, AIR-serv, AirValet,
and Super Laundry. CSC ServiceWorks employs more than 2,250 dedicated
professionals and provides services for nearly one million air and
laundry systems throughout the U.S., Canada, and Europe. For more
information, visit www.coinmachservicecorp.com.
About Pamplona Capital Management
Pamplona Capital Management is a specialist investment manager
established in 2005 that provides an alternative investment platform
across private equity, funds of hedge funds and single manager hedge
fund investments. Pamplona manages over $6.0 billion in assets for a
variety of clients including public pension funds, international wealth
managers, multinational corporations, family offices and funds of hedge
funds. Pamplona is currently managing its third private equity fund,
Pamplona Capital Partners III, LP, which was raised in 2011 and has
committed capital of $2.6 billion. Pamplona invests long-term capital
across the capital structure of its portfolio companies in both public
and private market situations. For more information, visit www.pamplonafunds.com.
About Tripwire, Inc.
Tripwire is a leading global provider of IT security and compliance
solutions for enterprises, government agencies and service providers who
need to protect their sensitive data on critical infrastructure from
breaches, vulnerabilities, and threats. Thousands of customers rely on
Tripwire's critical security controls like security configuration
management, file integrity monitoring, log and event management.
Tripwire solutions provide integrated controls for unprecedented
visibility and intelligence into business goals. For more information,
visit www.tripwire.com.
About nCircle Network Security, Inc.
nCircle is the leading provider of information risk and security
performance management solutions to more than 6,500 businesses and
government agencies worldwide. nCircle solutions enable enterprises of
all sizes to (1) automate compliance and reduce risk, and (2) measure
and compare the performance of their IT security program with their own
goals and industry peers. nCircle solutions may be deployed on a
customer’s premises, as a cloud-based service, or in combination, for
maximum flexibility and value. For more information, visit www.ncircle.com.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a
30+ year history of providing equity and strategic support to
experienced management teams and growing companies. The firm applies its
own industry consolidation investment strategy and process, which seeks
to create value by partnering with a company’s management to improve
business operations and make strategic acquisitions that will accelerate
growth. Thoma Bravo invests across multiple industries, with a
particular focus on application and infrastructure software and
financial and business services. The firm currently manages a series of
private equity funds representing almost $4 billion of equity
commitments. For more information, visit www.thomabravo.com.
About Industrial Service Solutions
Industrial Service Solutions (ISS) is a uniquely positioned company that
offers a broad set of competitively priced service value propositions
for critical to process equipment across a diverse set of industrial end
user markets. Equipment platforms include: Valves & Actuation,
Compressor & Blower, Motor & Pump and various categories of Process
Equipment, such as mixers, extruders and calendar drives. For more
information, visit www.iss-na.com.
About Bolder Capital
Bolder Capital is a co-investment relationship with The Edgewater Funds
and JZ Capital Partners. Bolder brings access to over $1 billion in
assets under management and experience from hundreds of private equity
transactions dating back over 35 years. The firm focuses on partnering
with experienced CEOs to build leading middle market companies through
organic and acquisition growth. For more information, visit www.boldercapital.com.
Ares Capital Corporation
Carl Drake, 404-814-5204
[email protected]
Source: Ares Capital Corporation
