Ares Commercial Finance has Provided a Senior Secured Credit Facility to Saylite Holdings LLC
October 28, 2019 – Ares Commercial Finance announced that it has provided a senior secured credit facility to Saylite Holdings LLC and its subsidiaries (“Saylite”). Saylite is owned by CORE Industrial Partners. The proceeds will be used to refinance the company’s existing debt and for ongoing working capital to support Saylite’s growth and potential future acquisitions.
About Saylite Holdings LLC
Saylite is an innovative LED lighting solutions provider. Founded in 1965 and based in Carrollton, Texas, the company is developing the latest solutions for practical applications, with an engineering staff that bridges the worlds of lighting, construction, design and technology. Saylite products can be found illuminating big retailers, Fortune 500 offices and warehouses, multi-family projects and hotels – and most importantly, thousands of small projects across America. For more information, visit www.saylite.com.
About CORE Industrial Partners
CORE Industrial Partners is a Chicago-based private equity firm investing in North American middle-market manufacturing and industrial technology businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience and a proven track record of building market leading businesses. Through our capital, insight and operational expertise, CORE partners with management teams to create unique value, grow revenues and consistently deliver lasting results. For more information, visit www.coreipfund.com.
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