NEW YORK--(BUSINESS WIRE)--
Ares Capital Corporation (NASDAQ: ARCC) is providing additional details
on four of its financing commitments closed during the third quarter of
2013, which were included in this morning’s earnings announcement.
Financing commitments by Ares Capital in the third quarter totaled $1.1
billion.
“We continued to use our competitive advantages in scale and flexibility
to originate financings for a broad group of borrowers, including a
select group of highly attractive new borrowers,” said Kipp deVeer,
President of Ares Capital Corporation.
Below is a description of four selected transactions closed during the
third quarter.
Moxie Liberty, LLC. / Panda Power Funds, LP
Ares Capital
served as joint syndication agent, documentation agent, joint lead
arranger and joint bookrunner in a $627 million senior secured credit
facility to support the construction of Liberty, an 829-megawatt natural
gas-fired, combined cycle electric power generation facility in Bradford
Country, Pennsylvania. Liberty was developed by Moxie Energy. As part of
the transaction, Panda Power Funds acquired Liberty and will provide
operations and maintenance as well as asset management services to the
project.
Keynote Systems, Inc. / Thoma Bravo, LLC
Ares Capital
served as administrative agent, collateral agent, lead arranger and
bookrunner in a $185 million senior secured credit facility in support
of the public-to-private acquisition of Keynote Systems, Inc. by Thoma
Bravo, LLC. Keynote is the global leader in Internet and mobile cloud
testing and monitoring.
K2 Pure Solutions / Centre Partners
Ares Capital served as
administrative agent, collateral agent and lead arranger for a $165
million senior secured credit facility to support the recapitalization
of K2 Pure Solutions. K2 Pure Solutions helps provide an answer to
eliminating the need to transport chlorine for water purification and
disinfection, as well as other industries, by deploying and funding a
North American-wide network of state-of-the-art facilities utilizing
inherently safe technology.
Eberle Design, Inc. / Brazos Private Equity Partners, LLC
Ares
Capital served as administrative agent, revolver agent, collateral
agent, lead arranger and sole bookrunner for a $58 million senior
secured credit facility to support the acquisition of Eberle Design,
Inc. by Brazos Private Equity Partners. EDI is a leading provider of
transportation system products in the traffic, access and rail
industries.
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 $68 billion of committed capital under management as of
September 30, 2013. For more information, visit www.arescapitalcorp.com.
About Moxie Energy
Moxie Energy was formed in 2009 by former AES Corporation executives.
Moxie was formed to develop, own, and operate clean energy
infrastructure projects, and to provide consulting services to the
energy industry. Moxie’s principals each average 26 years of experience
in the power industry. Their experience and expertise also provide them
with unique knowledge regarding the relationship between federal, state,
and local regulatory processes. Their completed projects comprise over
10 gigawatts of generation. For more information, visit www.moxieenergy.com.
About Panda Power Funds, LP
Panda Power Funds was established in 2007 by former senior management
members of Panda Energy International Inc., a Dallas-based independent
power developer founded in 1982. Panda seeks to take advantage of the
team’s prior experience in long-term capital appreciation through the
development, acquisition and active management of power generation
assets, with a primary focus on the development of natural gas-fueled
power plants. Panda’s investments target areas in the U.S. that are
experiencing, or expected to experience, power shortages and
environmental challenges. Panda’s recent investments include the
Pilesgrove solar project in New Jersey, and the Temple I, Temple II and
Sherman gas-fired projects in Texas. For more information, visit www.pandafunds.com.
About Keynote Systems, Inc.
Keynote® is the global leader in internet and mobile cloud testing and
monitoring. The company maintains the world’s largest on-demand
performance monitoring and testing infrastructure for Web and mobile
sites comprised of over 7,000 measurement computers and mobile devices
in over 275 locations around the world that enable companies to
continuously improve the online and mobile experience. Keynote currently
collects over 700 million mobile and Web performance measurements daily
and in 2012 was recognized by Forbes as “One of the Best 100 Companies
in America” with under one billion in revenue. Known as ‘The Mobile and
Internet Authority™,’ Keynote offers three market-leading product
platforms: Keynote Perspective®, Keynote DeviceAnywhere® and Keynote
SIGOS®. Keynote’s 4,000 customers represent top Internet and mobile
companies and include AT&T, Disney, eBay, E*TRADE, Expedia, Google,
Microsoft, Sony Mobile Communications AB, T-Mobile and Vodafone. Keynote
Systems is headquartered in San Mateo, California. For more information,
visit www.keynote.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 more than $4 billion of equity
commitments. For more information, visit www.thomabravo.com.
About K2 Pure Solutions, Inc.
K2 Pure Solutions manufactures products essential to modern life through
environmentally sustainable and inherently safe technology. K2 Pure
Solutions helps provide an answer to eliminating the need to transport
chlorine for water purification and disinfection by deploying and
funding a North America wide network of state-of-the-art facilities
utilizing inherently safe technology. K2’s facilities will mitigate the
potential environmental, security and operational risks associated with
the transport of chlorine for water treatment by producing exceptionally
pure bleach, caustic soda and other chlor-alkali products using only
salt, water and electricity in the most economically viable manner. K2
Pure Solutions was founded by David Cynamon and Howard Brodie, the
founders of KIK Custom Products, North America’s largest contract
manufacturer of private label household bleach, personal care and
household cleaning products. For more information, visit www.k2pure.com.
About Centre Partners
Centre Partners, founded in 1986, is a leading private equity firm with
a middle market focus that seeks to make acquisitions and equity
investments alongside management teams who have or desire to make a
meaningful economic stake in the future success of their businesses.
Centre Partners has invested over $2 billion in more than 70
transactions, partnering with management teams across a broad spectrum
of industries. Centre Partners provides those teams with access to its
unique resources, which include an extended network of experienced and
proven operating executives. The firm is currently investing through its
fifth fund. For more information, visit www.centrepartners.com.
About Eberle Design, Inc.
Eberle Design, Inc., headquartered in Phoenix, Arizona, is a leading
manufacturer of electronic control products for the traffic, access, and
rail industries. The Company’s broad array of products – including
conflict monitors, inductive loop detectors, power supplies, flashers,
load switches, and other critical infrastructure control parts – allows
transportation and access control professionals to integrate, automate,
and manage intersections, roads, and access points (e.g. gated entry,
tolls and parking) easily, efficiently and safely. The Company designs,
manufactures and sells under the Eberle and Reno brand names and is
recognized as a provider of reliable, high-performance, specialty
components. For more information, visit www.editraffic.com.
About Brazos Private Equity Partners, LLC
Brazos Private Equity Partners is a Dallas-based private equity firm
that has managed investment funds with approximately $1.4 billion of
equity capital since inception. Brazos focuses on investments in leading
middle-market consumer, healthcare, commercial & industrial, and
business services companies, and partners with outstanding management
teams and/or owners of closely-held businesses to maximize growth and
shareholder value. Brazos has been one of the most active middle-market
private equity investment firms, having completed in excess of 80
transactions over the past decade. For more information, visit www.brazospartners.com.
Ares Capital Corporation
Carl Drake, 404-814-5204
[email protected]
Source: Ares Capital Corporation
