Ares Commercial Finance has Provided a Revolving Credit Facility to Stevens Aerospace and Defense Systems LLC
October 21, 2019— Ares Commercial Finance announced that it has provided a senior secured revolving line of credit to Stevens Aerospace and Defense Systems LLC. The company is owned by principals of the NTC Group, Inc. Proceeds of the financing will be used to refinance the company’s existing credit facility and to provide ongoing working capital support.
About Stevens Aerospace and Defense LLC
Founded in 1950, Stevens is an independent maintenance, repair and overhaul company in the US, providing services to civilian, commercial and military operators of general aviation (“GA”) aircraft from its fixed base operations in Greenville, SC, Nashville, TN, Dayton, OH and Macon, GA. The Company services some of the largest GA aircraft operators in the world.
About Ares Commercial Finance
Ares Commercial Finance (“ACF”) is the asset-based lending team of Ares Management Corporation. ACF is focused on providing credit facilities ranging from $10 million to $150 million to middle market and lower-middle market, private and public companies; and addresses a wide scope of industries including manufacturing, distribution, wholesale, retail and service companies. These facilities include revolving lines of credit and term loans, asset-based and cash flow stretch loans, and 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 customized financing solutions. These financing solutions may be structured as working capital financing, bridge financing, turnaround financing, acquisition financing, debtor-in-possession financing, and special accommodation financing. For more information about Ares Commercial Finance, visit www.arescommercialfinance.com.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Our global platform had $142 billion of assets under management as of June 30, 2019 and employs more than 1,000 employees in over 20 offices across four continents. Please visit www.aresmgmt.com for additional information.
Bill Mendel, 212-397-1030