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GE Capital and Ares Capital Increase Available Capital to Senior Secured Loan Program to $11 Billion



  GE Capital and Ares Capital Increase Available Capital to Senior Secured
  Loan Program to $11 Billion

     Closes $1.4 Billion in Commitments during the Third Quarter of 2013

Business Wire

NEW YORK & NORWALK, Conn. -- November 21, 2013

The Senior Secured Loan Program (SSLP), jointly managed by an affiliate of
Ares Capital Corporation and an affiliate of GE Capital, announced today that
its total available capital has increased from $9 billion to $11 billion. In
connection with this expansion, GE Capital and an affiliate agreed to make
available to the SSLP up to approximately $8.7 billion and Ares Capital agreed
to make available to the SSLP up to approximately $2.3 billion.

During the third quarter of 2013, the SSLP closed eight financing
transactions, including refinancings of existing portfolio companies, totaling
$1.4 billion. Since January 1, 2010, the SSLP has committed approximately
$11.9 billion to middle market borrowers, including $2.8 billion year to date
through September 30, 2013.

Below is a brief description of select third quarter SSLP transactions.

Nordco, Inc. / Greenbriar Equity Group LLC

GE Capital Markets and Ares Capital served as joint lead arrangers and joint
bookrunners in a $230 million senior secured term loan provided by SSLP to
support Greenbriar’s acquisition of Nordco, Inc., an existing portfolio
company of the SSLP. Nordco provides an extensive selection of products and
services that make it possible for rail-related industries to build, improve,
maintain and inspect their track infrastructure and move rolling stock.
Through its GE Antares Capital business, GE Capital also provided a $20
million senior secured revolving credit facility in support of the
transaction.

Excelligence Learning Corporation / Sterling Investment Partners

GE Capital Markets and Ares Capital served as joint lead arrangers and joint
bookrunners in a $174 million senior secured term loan provided by the SSLP to
support the recapitalization of Excelligence Learning Corporation by Sterling
Investment Partners. Excelligence is a leading developer, manufacturer,
distributor and retailer of education products which are sold to child care
programs, preschools, elementary schools and families. Through its GE Antares
Capital subsidiary, GE Capital also provided a $30 million senior secured
revolving facility in support of the transaction.

Universal Services of America / Partners Group

GE Capital Markets and Ares Capital served as joint lead arrangers and joint
bookrunners in a (i) senior secured term loan and a (ii) senior secured
delayed draw term loan provided by SSLP to support the investment in Universal
Services of America by Partners Group. Universal Services is a growing
security company in the U.S. with over 80 offices nationwide. Through its GE
Antares Capital subsidiary, GE Capital also provided a senior secured
revolving credit facility in support of the transaction.

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 $11 billion of available
capital and can hold up to $350 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.

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. Ares Capital 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, a global alternative asset
manager and a SEC-registered investment adviser with approximately $68 billion
of committed capital under management as of September 30, 2013. 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 Nordco, Inc.

The Nordco family of companies provides an extensive selection of products and
services that make it possible for rail-related industries to build, improve,
maintain and inspect their track infrastructure and move rolling stock.
Nordco, headquartered in Oak Creek, Wisconsin, has a long history as a
manufacturer of new and rebuilt railroad Maintenance-of-Way Machinery. Today
the company’s product line includes in-house and on-site machinery inspection
and repair; reconditioned machinery rental; mobile railcar movers; ultrasonic
rail flaw testing equipment and services for railroads and other industries;
and replacement parts. Nordco operates manufacturing facilities in Oak Creek,
Wisconsin; Ridgefield, Connecticut; Grandview, Missouri; and Arcola, Illinois.
For more information, visit www.nordco.com.

About Greenbriar Equity Group LLC

Greenbriar Equity Group LLC, a private equity firm with over $2.0 billion of
committed capital, focuses exclusively on the global transportation industry,
including companies in the aerospace and defense, logistics and distribution,
freight and passenger transport, automotive, and related sectors. Greenbriar
invests with proven management teams who are interested in being significant
equity owners in their companies as well as with corporate partners who are
interested in raising capital. Greenbriar’s partners bring many decades of
experience at the highest levels within the transportation industry. For more
information, visit www.greenbriarequity.com.

About Excelligence® Learning Corporation

Excelligence® Learning Corporation is a leading developer, manufacturer,
distributor and retailer of education products which are sold to child care
programs, preschools, elementary schools and families. Excelligence offers a
broad array of products designed for both classroom and home use, enhanced by
its extensive proprietary product development program. In addition to its own
Colorations® brand of innovative arts & crafts products, Excelligence also
offers popular name brands such as Crayola®, Elmer’s®, Fiskars®, and Lego®.
The Excelligence multi-channel marketing model includes catalogs, Web sites,
and a field sales force. Its distribution capacity, which includes six
strategically located warehouses nationwide, enables fast, cost-effective
delivery and also custom assembly of prepackaged school supplies, both strong
competitive advantages. Excelligence’s mission is to support and enrich
children’s education at school and at home by providing safe, top-quality
products and learning resources, excellent values and exceptional service. For
more information, visit www.excelligencelearning.com.

About Sterling Investment Partners

Founded in 1991, Sterling Investment Partners has been investing in and
building middle-market companies for over 21 years with a highly experienced,
cohesive team of senior investment professionals. Sterling acquires businesses
that the firm believes have strong, sustainable competitive advantages and
significant opportunities for value creation. Sterling has a long history of
working in partnership with management teams. Sterling has in excess of $1.5
billion of equity capital under management, which includes significant
investment from Sterling professionals. Over its history, Sterling has
completed platform investments, strategic or add-on acquisitions,
recapitalizations and liquidity events with an aggregate transaction value in
excess of $10.0 billion, representing more than 80 transactions. Key
industries Sterling focuses on include business services, consumer and retail,
industrial value-added distribution, niche manufacturing, and transportation
and logistics. For more information, visit www.sterlinglp.com.

About Universal Services of America

Founded in 1965, Universal Services of America combines an innovative mix of
tradition with cutting edge systems and technology to keep pace with the
ever-evolving needs of today’s business environment. Headquartered in Santa
Ana, California, with offices located nationwide, Universal employs hands-on,
highly experienced management teams and continuous training to deliver
consistent, high quality security solutions. Universal is made up of four
unique divisions: Universal Protection Service, which offers a wide range of
security professionals for commercial properties of every type; Universal
Building Maintenance, which specializes in green cleaning services for every
kind of facility; Universal Security Systems, which provides full-service
security systems; and Universal Fire/Life Safety Services, which offers all
aspects of emergency preparation. For more information, visit
www.universalpro.com.

About Partners Group

Partners Group is a global private markets investment management firm with
over EUR 30 billion in investment programs under management in private equity,
private real estate, private infrastructure and private debt. The firm manages
a broad range of customized portfolios for an international clientele of
institutional investors. Partners Group is headquartered in Zug, Switzerland
and has offices in San Francisco, New York, São Paulo, London, Guernsey,
Paris, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney.
The firm employs over 650 people, is listed on the SIX Swiss Exchange (symbol:
PGHN) with a market capitalization of over CHF 6.5 billion and a major
ownership by its partners and employees. For more information, visit
www.partnersgroup.com.

Contact:

Ares Capital Corporation
Carl Drake, 404-814-5204
cdrake@aresmgmt.com
or
GE Antares Capital
Jennifer Sampson, 312-441-7055
jennifer.sampson1@ge.com
or
GE Capital, Americas
Ned Reynolds, 203-229-5717
ned.reynolds@ge.com
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