Senior Secured Loan Program Closes $1.2 Billion in Commitments During the Second Quarter of 2014

  Senior Secured Loan Program Closes $1.2 Billion in Commitments During the
  Second Quarter of 2014

Business Wire

NEW YORK & NORWALK, Conn. -- August 6, 2014

The Senior Secured Loan Program (SSLP), jointly managed by an affiliate of
Ares Capital Corporation (“Ares Capital”) and an affiliate of GE Capital,
announced today that during the second quarter it closed nine financing
transactions, including refinancings of existing portfolio companies, totaling
$1.2 billion. Since January 1, 2010, the SSLP has committed approximately
$15.9 billion to middle market borrowers, including $1.7 billion across 13
transactions year-to-date.

Below is a description of three of the transactions that closed during the
second quarter.

Athletico Physical Therapy / Harvest Partners

GE Capital Markets and Ares Capital served as joint lead arrangers and joint
bookrunners in a $153.0 million senior secured term loan provided by the SSLP
to support the acquisition of Athletico Physical Therapy by Harvest Partners.
Athletico is a Chicago-based, clinician-owned physical therapy business.

Connoisseur Media, LLC

GE Capital Markets and Ares Capital served as joint lead arrangers and joint
bookrunners in a senior secured term loan and two senior secured delayed draw
term loans provided by the SSLP to support the refinancing of Connoisseur’s
current capital structure and its current and future radio station acquisition
strategy, including two recently signed acquisitions, of WDRC and WALK.
Connoisseur, based in Westport, CT, owns and operates 36 radio stations (25
FMs and 11 AMs) in 10 markets. Through its GE Antares Capital unit, GE Capital
also provided a senior secured revolving credit facility in support of the
transaction.

Implus Corporation / Trilantic Capital Partners

GE Capital Markets and Ares Capital served as joint lead arrangers and joint
bookrunners in a senior secured term loan provided by the SSLP to support the
recapitalization of Implus Corporation, a portfolio company of Trilantic
Capital Partners. Implus is an innovative manufacturer of more than a dozen
brands in the $1 billion footwear and recreational accessory marketplaces.

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
debt and equity financing solutions to the U.S. middle market. 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 subsidiary of Ares
Management, L.P. (“Ares Management”) (NYSE:ARES). Ares Management is a
publicly traded, leading global alternative asset manager with approximately
$77 billion of assets under management as of March 31, 2014. For more
information, visit www.arescapitalcorp.com. However, the contents of such
website are not and should not be deemed to be incorporated by reference
herein.

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 (https://twitter.com/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. Building, powering, moving and
curing the world. Not just imagining. Doing. GE works. For more information,
visit the company's website at www.ge.com.

About GE Antares Capital

GE Antares is a unit of GE Capital. With offices in Atlanta, Chicago, Los
Angeles, New York, and San Francisco, GE Antares is a leading middle market
lender, offering a “one-stop” source for GE’s lending and other services
offered to middle market private equity sponsors. GE Antares was recognized by
Private Debt Investor and Private Equity International as 2013 Lender of the
Year, North America and Mid-Cap Lender of the Year, North America,
respectively. For more information, visit geantares.com.

About Athletico Physical Therapy

Athletico Physical Therapy provides orthopedic rehabilitation services to
communities and organizations throughout Illinois, Wisconsin, and Indiana. To
demonstrate our commitment to both our patients and referring physicians, we
measure functional patient outcomes and patient satisfaction with national
data comparison using a third-party outcomes system. Our services include
physical and occupational/hand therapy, work rehabilitation, performing arts
rehabilitation, women’s health therapy, pediatric physical therapy, vestibular
rehabilitation, concussion management and athletic training. Expanded services
include aquatic therapy, ART, Graston Technique, performance enhancement,
fitness center memberships, personal training, golf fitness, endurance,
nutrition, massage therapy and complimentary injury screens. For more
information, visit www.athletico.com.

About Harvest Partners

Founded in 1981, Harvest Partners, LP (www.harvestpartners.com) is a leading
New York-based private equity investment firm pursuing management buyouts and
recapitalizations of middle market companies in North America. Harvest focuses
on acquiring profitable companies in the business and industrial services,
manufacturing and distribution, healthcare, midstream energy, and consumer
products and retail sectors. This strategy leverages Harvest’s 30+ years of
experience in financing organic and acquisition-oriented growth companies. For
more information, visit www.harvestpartners.com.

About Connoisseur Media

Connoisseur Media is headquartered in Westport, CT. The company owns and/or
operates 36 stations in 10 markets – Billings, MT, Bloomington, IL, Erie, PA,
Omaha, NE, Wichita, KS, Long Island, NY, Trenton, NJ, Allentown and
Stroudsburg, PA, and Bridgeport, Stamford and New Haven, CT. For more
information, visit www.connoisseurmedia.com.

About Implus Corporation

Headquartered in North Carolina’s Research Triangle Park, Implus has evolved
to become an innovative manufacturer of sporting goods and outdoor
accessories. Implus’ brand family includes Airplus^®, Apara^™, Granger’s^®,
Highgear^®, ICEtrekkers^®, Little Hotties^®, New Balance^®Sports Monitors,
Perfect^®, Sneaker Balls^®, Sof Comfort^®, Sof Sole^® and Yaktrax^®. From
insoles, socks, shoe care and seasonal accessories to navigational tools and
fitness equipment, Implus proudly distributes in over 75,000 retail outlets
across North America and in 70 countries worldwide. For more information,
visit www.implus.com.

About Trilantic Capital Partners

Trilantic Capital Partners is a global private equity firm focused on control
and significant minority investments in North America and Europe managed by
Trilantic North America and Trilantic Europe. Trilantic employs flexible
transaction structures and has a strong heritage of partnering with
family-owned businesses and providing growth capital to outstanding management
teams. Trilantic primarily targets investments in the consumer, energy,
industrials, TMT, healthcare, financial and business services sectors, and
currently manages five private equity funds with aggregate capital commitments
of $6.1 billion. For more information, visit www.trilantic.com.

Contact:

Ares Capital Corporation
Carl Drake, 888-818-5298
cdrake@aresmgmt.com
or
Jana Markowicz, 888-818-5298
markowicz@aresmgmt.com
or
GE Antares Capital
Alexandra Abrams, 312-441-7356
alexandra.abrams@ge.com
or
GE Capital, Americas
Tara Lambropoulos, 312-441-7854
tara.lambropoulos@ge.com
 
Press spacebar to pause and continue. Press esc to stop.