December 17, 2019— Ares Commercial Finance announced that it has provided an $11.2 million senior secured credit facility to NHI Mechanical Motion, LLC comprised of a revolving line of credit, a real estate term loan and a term loan secured by machinery and equipment. Proceeds from the financing were used to support the acquisition of the business and for ongoing working capital support.
About NHI Mechanical Motion, LLC
NHI Mechanical Motion, LLC is a manufacturer and distributor of mechanical motion parts and assemblies, such as pullies, sprockets, bearings, as well as other assemblies used across several industries, such as outdoor power equipment, power transmission, material handling, farm & agriculture, and elevator markets, among others. The company is headquartered in Claremont, New Hampshire.
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 $144 billion of assets under management as of September 30, 2019 and employs more than 1,200 employees in over 20 offices across four continents. Please visit www.aresmgmt.com for additional information.
Bill Mendel, 212-397-1030