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.