August 3, 2018— Ares Commercial Finance announced that it has provided an $11 million senior secured revolving line of credit to Fanzz Gear, Inc. (“Fanzz”). Headquartered in Salt Lake City, Utah, Fanzz is a leading brick-and-mortar and online retailer of licensed sports apparel and merchandise. The company is owned, in part, by Ames Watson Capital, LLC. Proceeds of the facility will be used to refinance existing debt and for ongoing working capital.
About Fanzz Gear, Inc.
Headquartered in Salt Lake City, Utah, Fanzz sells licensed NFL, MLB, NBA, NCAA, and other major sports apparel and merchandise through a platform of 90 mall-based retail stores, which are spread across 15 states, and online. For more information about the Fanzz Gear visit www.fanzz.com.
About Ames Watson Capital, LLC
Ames Watson Capital, LLC is a privately held diversified operating company that purchases, transforms and partners with lower middle market companies to create long-term value. Its strategy is based on bringing more than just capital to a company. Ames Watson brings know-how, problem solving, deep resources and experience to grow companies and move them past “inflection points.” Ames Watson is a permanent capital vehicle with committed capital and the resources to move quickly and the capabilities to help businesses reach long-term success. For more information about Ames Watson visit www.ameswatson.com.
About Ares Commercial Finance
Ares Commercial Finance (“ACF”) is the asset-based lending group of 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 $121.4 billion of assets under management as of June 30, 2018 and 18 offices in the United States, Europe, Asia, and Australia. Since its inception in 1997, Ares 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