NEW YORK & NORWALK, Conn.--(BUSINESS WIRE)--
The Senior Secured Loan Program (SSLP), jointly managed by an affiliate
of Ares Capital Corporation and an affiliate of GE Capital, announced
today that it closed five financing commitments totaling $625 million,
including two refinancing transactions of existing portfolio companies,
during the third quarter of 2012. Since January 1, 2010, the SSLP has
committed approximately $7.9 billion to middle-market borrowers.
Below is a brief description of two of these recent SSLP transactions.
Selig Sealing Products, Inc. / Behrman Capital
GE Capital Markets and Ares Capital served as joint lead arrangers and
joint bookrunners in a $180 million senior secured term loan provided by
SSLP to support the refinancing of Selig Sealing Products, Inc., a
portfolio company of Behrman Capital. Selig is the leading global
manufacturer of container sealing products engineered to maintain
freshness, protect against leakage and provide tamper evidence for rigid
containers.
Drayer Physical Therapy Institute LLC / GS Capital Partners
GE Capital Markets and Ares Capital served as joint lead arrangers and
joint bookrunners in a $125 million senior secured term loan provided by
SSLP to support the acquisition of Drayer Physical Therapy Institute LLC
by GS Capital Partners, a private equity fund managed by Goldman Sachs.
GE Capital Markets and Ares Capital also structured a $15 million
delayed draw term loan provided by the SSLP in support of the
transaction. Drayer Physical Therapy Institute is a leading owner and
operator of outpatient physical therapy clinics in the United States.
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 $7.7 billion of available capital and can hold up to $300
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. The total
aggregate principal amount of loans outstanding issued by the SSLP was
$5.9 billion as of September 30, 2012.
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 $56 billion of committed capital under management as of
September 30, 2012. For more information, visit www.arescapitalcorp.com.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (@GECapital). GE (NYSE: GE) works on
things that matter. The best people and the best technologies taking on
the toughest challenges. Finding solutions in energy, health and home,
transportation and finance. For more information, visit ge.com
About GE Antares Capital
GE Antares Capital is a unit of GE Capital, Sponsor Finance. With
offices in Atlanta, Chicago, Los Angeles, New York and San Francisco, GE
Antares is a leading lender to middle market private equity sponsors. GE
Capital Markets has ranked #1 in the U.S. Sponsored Middle Market
Bookrunner League Tables for three of the past four years. For more
information, visit www.geantares.com.
About Selig Sealing Products, Inc.
Selig Sealing Products, Inc. is the largest manufacturer of
tamper-evident cap/closure lining material in the world. Selig’s mission
is to provide customers with extremely high levels of responsiveness and
flexibility in serving and determining their packaging needs. Selig’s
strength and experience as a global leader of sealing solutions dates
back to 1889 with the establishment of Hermetic Cap & Glass Company and
the first known in-house liner manufacturing facility. With the
acquisition of the Unipac Corporation, under one name, Selig brings the
customers the core benefits, knowledge and rich history of the legends
in global sealing solutions: Capseals, Insulec, Unipac, 3M, Sonoco,
Malborough and Selig. Featuring reliable, innovative, quality products
that cover a broad range of applications such as: food, pharmaceutical,
agricultural, chemical, beverage and cosmetics, Selig’s comprehensive
range of both one-piece (UniGard™ and FoilSeal™), and two piece
structures (Safe-Guard™ and FoilSeal™) give them the ability to meet the
most demanding worldwide applications with one of their 600 customized
aluminum foil/heat-seal combinations. In addition, their innovative
products, such as Lift’n’Peel™, Top Tab™, AromaSeal™ and AromaPeel™
offer a ‘built in easy opening feature’ that provides greater
convenience to the consumer while providing differentiation to the brand
owners. For more information, visit www.seligsealing.com.
About Behrman Capital
Based in New York City and San Francisco, Behrman Capital was founded in
1991 by Grant G. and Darryl G. Behrman. The firm invests in management
buyouts, leverage buildups and recapitalizations of established growth
businesses. The company’s investments are primarily focused in five
industries: health care, specialty manufacturing, business to business
outsourcing, defense and information technology. The firm has raised
five funds with a combined capital base in excess of $3.0 billion. For
more information, visit www.behrmancap.com.
About Drayer Physical Therapy Institute LLC
Drayer Physical Therapy Institute is a leading outpatient physical
rehabilitation company, incorporated in 2002. With the opening of its
first clinic in Bel Air, Maryland, the company now owns/manages over 90
outpatient physical therapy centers in the Northeast, Mid-Atlantic,
Southeast, and Northwest areas of the United States. For more
information, visit www.drayerpt.com.
Ares Capital Corporation
Carl Drake, (404) 814-5204
[email protected]
or
GE
Antares Capital
Jennifer Sampson, (312) 441-7055
[email protected]
or
GE
Capital, Americas
Ned Reynolds, (203) 229-5717
[email protected]
Source: Ares Capital Corporation
