June 17, 2019— Ares Commercial Finance announced that it has provided a senior secured credit facility to Denver Hardwood Co. Incorporated and certain of its subsidiaries and affiliates. The proceeds will be used to refinance the company’s existing credit facility and for ongoing working capital.
About Denver Hardwood Co. Incorporated
Denver Hardwood Co. Incorporated, the main operating company, is a wholesale distributor of quality hardwood and hard surfaces flooring & installation products. They have a coast-to coast footprint operating through six divisions including Rio Grande Flooring Distributors, Cascade Pacific Flooring Distributors, North Georgia Flooring, Lockwood Flooring and Bison Hardwood, with multiple branches within each division, operating across 11 states under the marketing name FDG (Flooring Distribution Group). For more information please visit www.denverhardwood.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 more than 19 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