September 5, 2017— Ares Commercial Finance announced that it has provided a $10 million senior secured credit facility to ClearCaptions LLC. The company, headquartered near Sacramento, CA, is a provider of phone equipment and captioning services for people with hearing loss. The credit facility consists of a working capital revolver. Proceeds of the financing were used to support the ongoing working capital needs of the company.
About ClearCaptions LLC
ClearCaptions helps millions of people with hearing loss across the U.S. stay connected with the outside world. ClearCaptions is a Federal Communications Commission (FCC)-certified telephone captioning provider that was founded in 2011. ClearCaptions provides an innovative suite of captioning services through a variety of platforms, including personal computers, mobile devices and home phones. For more information on ClearCaptions, visit www.clearcaptions.com.
About Ares Commercial Finance
Ares Commercial Finance (“ACF”) is the asset-based lending group for 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. In addition, ACF has the ability to provide cash flow loans to certain 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 understand their business, goals and needs and then 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 $104 billion of assets under management as of June 30, 2017 and more than 15 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 about Ares, visit www.aresmgmt.com.
Bill Mendel, 212-397-1030