This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: ARCC

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs