Ares Capital Corporation (NASDAQ:ARCC) is providing additional details on five of its financing commitments closed during the fourth quarter of 2013, which were included in Ares Capital’s earnings announcement released earlier today. Financing commitments made by Ares Capital totaled more than $1.2 billion in the fourth quarter and approximately $4.0 billion for the full year 2013. “We had a strong finish to a really productive year, committing more than $1.2 billion to new and existing clients during the fourth quarter," said Kipp deVeer, President of Ares Capital Corporation. “We are thrilled to continue to support the capital needs of high-quality middle market companies and important project finance transactions.” Below is a description of select transactions closed during the fourth quarter. Moxie Patriot, LLC. / Panda Power Funds, LP Ares Capital served as joint lead arranger, joint bookrunner, and documentation agent in a $652.0 million senior secured credit facility to support the construction of Moxie Patriot, an 828 Megawatt natural gas-fired, combined cycle electric power generation facility in Lycoming County, Pennsylvania. The Moxie Patriot project was developed by Moxie Energy. As part of the transaction, Panda Power Funds acquired Patriot and will provide operations and maintenance and asset management services to the project. Healthport® / ABRY Partners Ares Capital served as joint lead arranger, joint bookrunner and joint syndication agent for a $280.0 million first lien senior secured credit facility to support the recapitalization of Healthport®, a portfolio company of ABRY Partners. Healthport® is the nation’s largest provider of release of information (ROI) services and audit management and tracking technology. MacLean-Fogg Company Ares Capital provided a $100.0 million subordinated debt investment to support the recapitalization of MacLean-Fogg Company and to help position the company to continue its strong growth trajectory. MacLean-Fogg Company is a global manufacturer and supplier for the transportation and power industries worldwide.
Garden Fresh Restaurant Corp. / Sun Capital Partners, Inc.Ares Capital served as documentation agent for a $97.5 million senior secured credit facility to support the recapitalization of Garden Fresh Restaurant Corp., an existing portfolio company of Sun Capital. Garden Fresh owns and operates salad, soup and bakery restaurants that offer individualized, wholesome dining experiences that appeal to a broad range of customers. ADF Restaurant Group Ares Capital served as administrative agent and lead arranger in a $70.5 million senior secured credit facility in support of the recapitalization of ADF Restaurant Group. ADF and affiliates is the largest franchisee of Pizza Hut Restaurants in the Northeast and the second largest Pizza Hut franchisee in the United States 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 $74 billion of assets under management as of December 31, 2013. For more information, visit www.arescapitalcorp. 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, the Temple I, Temple II and Sherman gas-fired projects in Texas, and the Liberty gas-fired project in Pennsylvania. For more information, visit www.pandafunds.com. About Healthport® HealthPort is the authority on the compliant exchange of protected health information through release of information and audit management technology. With affordable, quality health information solutions, HealthPort serves more than 10,000 healthcare facilities, over 44,000 physicians, and millions of requesters nationwide. HealthPort’s proactive, service, compliance and technology driven approach streamlines the administrative and business processes of the healthcare community.
About ABRY PartnersFounded in 1989, ABRY is one of the most experienced and successful healthcare services, media, communications, and business information services sector-focused private equity investment firms in North America. ABRY has completed over $42 billion of transactions, representing investments in more than 450 properties. The firm is currently managing over $3.5 billion of total capital and investing out of a $1.6 billion private equity fund, $950 million senior equity/mezzanine fund and a $1.2 billion senior debt fund. About MacLean-Fogg Company Founded in 1925, MacLean-Fogg Company is a group of global enterprises which partner with key customers to engineer, manufacture and distribute products for the transportation and power industries worldwide. MacLean-Fogg operates 32 global manufacturing facilities and has a worldwide workforce of more than 3,000 people. The company is a privately held enterprise headquartered in Mundelein, IL. For more information, visit www.macleanfogg.com. About Garden Fresh Restaurant Corp. Headquartered in San Diego, CA, Garden Fresh Restaurant Corp. operates 128 restaurants in 15 states under two brand names: Souplantation (only in Southern CA) and Sweet Tomatoes. The restaurants provide a one-of-a-kind dining experience where guests have the freedom to create their own fresh and wholesome meal from an abundant salad bar paired with a selection of eight craveable soups, hot pastas, fresh from the oven baked goods and delectable desserts. Passionately serving families, friends and their communities for more than 35 years, the restaurants are known for their farm-fresh seasonal ingredients, made-from-scratch recipes and hospitable service, all at an everyday value. For more information: http://www.souplantation.com or www.sweettomatoes.com. About Sun Capital Partners, Inc. Sun Capital Partners, Inc. is a pioneer in private equity investing, uniquely combining the financial skills and resources of a traditional private equity firm with the insight and expertise of a world class operating team. The firm focuses on market-leading companies that can benefit from our in-house professionals, resources, and expertise in their efforts to materially improve operating performance. Sun Capital affiliates have invested in more than 330 companies worldwide with combined sales in excess of $45 billion since our inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates in London, Frankfurt, Paris, Luxembourg, Shanghai and Shenzhen. For more information, visit www.SunCapPart.com. About ADF Restaurant Group and Affiliates Incorporated in 1998, ADF Companies has grown from operating 20 restaurants to more than 300 today and it continues to grow and acquire new assets. The strong leadership team has over 100 years of combined multi-unit restaurant operational and developmental experience. Today, ADF and affiliates owns and operates several hundred YUM restaurants in eleven states and District of Columbia. For more information, visit www.adfcompanies.com.