Ares Management Corporation (NYSE:ARES) announced today that funds managed by its Credit Group (collectively "Ares") closed approximately $13.8 billion in U.S. direct lending commitments across 90 transactions during the fourth quarter of 2024 and approximately $48.2 billion in direct lending commitments across 341 transactions in the 12 months ended December 31, 2024. The $48.2 billion of commitments over the 12-month period represents a new record for the U.S. Direct Lending business. Below is a description of selected transactions that Ares closed during the fourth quarter of 2024.
Badia Spices / Bia Foods and BDT & MSD Partners
Ares served as administrative agent, sole arranger and bookrunner for a senior secured credit facility to support the acquisition of Badia Spices by Bia Foods and funds affiliated with BDT & MSD Partners. Badia Spices is North America's largest independently owned spices & seasonings brand.
Catalent / Novo Holdings
Ares served as an administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Novo Holdings' acquisition of Catalent. Catalent is a leading global contract development and manufacturing organization that supports pharma, biotech and consumer health customers in product development, launch and full life-cycle supply.
Five Star Breaktime Solutions / Freeman Spogli
Ares served as an administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Freeman Spogli's continued growth plans for Five Star Breaktime Solutions. Five Star is a provider of on-site, unattended micro market, vending, and refreshment service solutions to employers.
The Hilb Group / Carlyle
Ares served as an administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Carlyle's continued growth plans for The Hilb Group. The Hilb Group is a multi-line insurance brokerage with a full suite of commercial P&C lines and employee benefits products serving small and middle-market companies, as well as personal insurance to individuals and high net worth clients.
Ignite Fitness / TowerBrook Capital Partners
Ares served as an administrative agent and sole lead arranger for a senior secured credit facility to support TowerBrook Capital Partners' continued growth plans for Ignite Fitness. Ignite Fitness is one of the largest Planet Fitness franchisees in the country, operating 134 clubs across the U.S. and Canada.
MicroStar Logistics / Freeman Spogli & Co.
Ares served as administrative agent for a senior secured credit facility to support the continued growth of MicroStar Logistics. MicroStar Logistics is a leading provider of keg management solutions for the beer industry across the U.S. and internationally.
PetIQ / Bansk Group
Ares served as an administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Bansk Group's take private of PetIQ. PetIQ is a leading pet medication and wellness company, providing pharmaceutical products and vet services to 1.2+ million pets through 60,000 points of distribution across the U.S.
Precinmac / Centerbridge Partners
Ares served as administrative agent, joint lead arranger, and joint bookrunner for a senior secured credit facility to support Centerbridge Partners' acquisition of Precinmac. Precinmac specializes in manufacturing high-complexity, precision-machined components and assemblies for aerospace, defense, space, semiconductor, and other end markets through a network of nine facilities across the U.S. and Canada.
Squarespace / Permira Advisers
Ares served as a joint lead arranger for a senior secured credit facility to support Permira Advisers' acquisition of Squarespace. Squarespace is a leading SMB enablement platform for entrepreneurs and SMBs to easily create and manage an online presence. The product offering includes a diverse and differentiated suite of tools including web presence, hosting, domains, security and payments.
About Ares Management Corporation
Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2024, Ares Management Corporation's global platform had over $484 billion of assets under management, with operations across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
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SOURCE: Ares Management Corporation
