October 24, 2018— Ares Commercial Finance is pleased to announce that it served as agent for a revolving credit facility in support of the acquisition of Iron Bow Technologies (“Iron Bow”), a leading provider of IT solutions to government, commercial and healthcare clients, by an affiliate of H.I.G. Capital. Proceeds of the financing will also be used for Iron Bow’s ongoing working capital needs.
About Iron Bow Technologies
Iron Bow is a leading IT solutions provider dedicated to successfully transforming technology investments into business capabilities for government, commercial and healthcare clients. The depth of expertise, global reach and strategic partnerships with industry leaders as well as disruptive technology partners uniquely positions Iron Bow to target the right solution to ensure a successful business outcome. Iron Bow partners with clients from planning and implementation through ongoing maintenance and management to deliver solutions that are strong, flexible and on target with their mission. Regardless of technology consumption philosophies, Iron Bow can provide the leadership required to drive innovation. For more information, please visit www.ironbow.com.
About Ares Commercial Finance
Ares Commercial Finance (“ACF”) is the asset-based lending group of Ares Management, L.P. providing asset-based revolving lines of credit and term loans, as well as stretch loans to middle market and lower-middle market companies. ACF provides cash flow loans to borrowers as well as asset-backed facilities to specialty finance companies. Leveraging the breadth and experience of the Ares platform, ACF works with borrowers to deliver creative, flexible and comprehensive financing solutions. ACF’s asset-based lines of credit may be structured as working capital and bridge financing, special accommodation financing, turnaround financing, debtor-in-possession financing and acquisition financing. ACF’s asset-based lending practice focuses on privately-held and small public companies in the middle market and addresses a wide breadth of industries including manufacturing, distribution, wholesale and service companies. For more information about Ares Commercial Finance, visit www.arescommercialfinance.com.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $121.4 billion of assets under management as of June 30, 2018 and 18 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. For more information, visit www.aresmgmt.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $27 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogota´, Mexico City, Rio de Janeiro and Sao Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:
1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
*Based on total capital commitments managed by H.I.G. Capital and affiliates.
Bill Mendel, 212-397-1030