October 30, 2018— Ares Commercial Finance announced that it has provided a $20 million senior secured revolving line of credit to Imperial Frozen Foods. The company is owned by Kenex Holdings. Proceeds were used to refinance existing debt and to finance strategic acquisitions.
About Imperial Frozen Foods
Headquartered in Wake Forest, North Carolina, the company is a supplier of Grade A conventional and organic frozen fruits and vegetables to the retail, club and food service segments. For more information, visit www.imperialfrozenfoods.com.
About Kenex Holdings
Our mission is to support small, private and family-owned companies with revenue under $250MM. Our vision is to build a robust portfolio of these companies through a process that assures right fit, right expertise and right planning. Our sweet spot centers on companies whose products and services represent the very backbone of the economy. These companies are involved in, but not limited to, such sectors as agriculture, food and beverage, transportation and logistics, and infrastructure services. For more information, visit www.kenexholdings.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.
Bill Mendel, 212-397-1030