This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ares Capital Corporation Highlights Select Financing Commitments Closed During The Second Quarter

Ares Capital Corporation (NASDAQ: ARCC) announced today that it is providing additional details on five of its financing commitments closed during the second quarter of 2012, which were included in this morning’s previously released earnings announcement.

“During the second quarter, we continued to execute on our strategy of leveraging our scale, flexible offerings and strong relationships to support the financing needs of middle market companies,” said Michael Arougheti, President of Ares Capital. “We capitalized on incumbent relationships to provide financing to some of our highest quality portfolio companies and also invested in several new portfolio companies with attractive growth dynamics.”

Below is a brief description of the five select transactions.

Midwest Dental, Inc. / Friedman Fleischer & Lowe

Ares Capital served as administrative agent in a $151 million senior secured credit facility to support the recapitalization of Midwest Dental, a Friedman Fleischer & Lowe portfolio company. Through this transaction, Ares Capital increased its commitment to Midwest Dental by approximately $37 million. Midwest Dental is a dental practice management company with approximately 100 practices across seven states in the Midwest and Rocky Mountain regions.

Bushnell, Inc. / MidOcean Partners

Ares Capital committed $108 million to a $526 million senior secured credit facility to support the refinancing of Bushnell, Inc., a portfolio company of MidOcean Partners. Ares Capital’s commitment included financing to support Bushnell’s subsequent acquisition of Primos. Through this transaction, Ares Capital’s aggregate commitment to Bushnell increased to approximately $150 million. Bushnell, Inc. is a designer, distributor and marketer of branded products targeting consumers with active, outdoor lifestyles.

PRV Aerospace, LLC / Court Square Capital Partners

Ares Capital served as administrative agent and sole lead arranger in a $70 million second lien term loan to support the acquisition of PRV Aerospace, LLC by Court Square Capital Partners. Ares Capital also invested $8.5 million in a first lien senior credit facility. PRV Aerospace supplies components, performs subassemblies and assemblies as well as repair and overhaul services to the world’s leading manufacturers of aircraft, aero-structures, aero-equipment and other defense platforms.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs