May 14, 2019— Ares Commercial Finance announced that it has provided a $32 million senior secured revolving line of credit to Confluence Outdoor, LLC. The proceeds of the transaction will be used to refinance the company’s existing debt and to provide ongoing working capital to support the company’s growth.
About Confluence Outdoor ®
Confluence Outdoor is a portfolio of seven premier watersport brands including Wilderness Systems®, Perception® kayaks, Dagger®, Mad River Canoe®, Adventure Technology® paddles, Harmony® Gear accessories, and Boardworks Surf®. With a full collection of kayaks, canoes, surf and stand up paddle boards, and a wide range of paddlesports accessories—ranging from touring and recreational to high-performance fishing and whitewater products, the Confluence brands cater to all levels of watersport enthusiasts. Confluence Outdoor is located in Greenville, S.C. where they are proud to manufacture all of their boats. For more information about Confluence Outdoor, please visit www.confluenceoutdoor.com.
About Ares Commercial Finance
Ares Commercial Finance (“ACF”) is the asset-based lending group of Ares Management Corporation 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 Corporation
Ares Management Corporation is a publicly traded, leading global alternative asset manager with approximately $137 billion of assets under management as of March 31, 2019 and 19 offices in the United States, Europe, Asia, Australia and the Middle East. 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