June 24, 2016— Ares Commercial Finance (“ACF”) announced it has provided an $18 million asset-based credit facility to Terravant Wine Company LLC, the Buellton, California-based producer and distributor of private label wine. Its proprietary brands are sold to retailers, distributors, wineries, and wine merchants throughout the U.S. The senior credit facility consists of a working capital revolver secured by accounts receivable and inventory, along with a capital expenditure facility to fund equipment purchases for future expansion. The proceeds of the revolver will be used to repay existing debt and to provide ongoing working capital.
About Ares Commercial Finance
Ares Commercial Finance is the asset-based lending group for Ares Management, L.P., providing cash flow loans to small and middle market companies as well as asset-based facilities to specialty finance companies. The ACF team uses a combination of specialized credit and collateral monitoring to provide clients with flexibility and greater credit availability. ACF has the ability to structure and agent deals to support the growth and changing capital needs of its clients. 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.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $94 billion of assets under management as of March 31, 2016 and more than 15 offices in the United States, Europe and Asia. 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.
This information is neither an offer to sell, nor the solicitation of an offer to purchase, any security, the offer and/or sale of which can only be made by definitive offering documentation.
Bill Mendel, 212-397-1030