July 24, 2017— Ares Commercial Finance announced that it has provided a $30 million senior secured credit facility to Petersen-Dean, Inc. The company, headquartered in Fremont, California, is a certified designer and installer of American-made commercial and residential roofs and solar roofing systems. The credit facility consists of a working capital revolver. Proceeds of the financing were used for working capital and to refinance the company’s existing debt.
About Petersen-Dean, Inc.
Petersen-Dean, Inc. is the largest, privately held, residential solar and roof installer in the Western U.S. Since its founding in 1984, Petersen-Dean has installed over 1.2 million roofs (more than $3 billion in revenues) for homebuilders and homeowners. From its headquarters in Fremont, California and 21 regional offices throughout the U.S., the Company differentiates itself from competitors by only installing using high-quality, American-made products—sourced from a select group of exclusive partners and installed by Petersen-Dean’s experienced, supervised workforce —on every roof it installs. For more information, visit www.petersendean.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 $100 billion of assets under management as of March 31, 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