Business & Finance
Business and Finance
Business and Finance
Mon, June 28, 2010 Ares Capital Corporation Leads New Subordinated Debt Commitment to Support Investment in Netsmart Technologies by Genstar Capit
NEW YORK--([ BUSINESS WIRE ])--Ares Capital Corporation (NASDAQ: ARCC) announced today that it has closed a senior subordinated debt facility in support of Genstar Capitala™s investment in Netsmart Technologies, Inc., a leading provider of software and services for health and human services organizations.
"We are very impressed with Netsmarta™s quality management team, and we look forward to supporting the companya™s exciting growth initiatives"
Ares Capital acted as the administrative agent for and sole investor in the senior subordinated debt facility. Ares Capital also provided an unfunded delayed draw term loan for future acquisitions.
"We are very impressed with Netsmarta™s quality management team, and we look forward to supporting the companya™s exciting growth initiatives,a said Eric Beckman, Senior Partner at Ares Capital. aWe are also pleased to close our fourth transaction with our valued private equity sponsor client, Genstar Capital."
"Ares Capitala™s extensive knowledge of this industry along with its large scale and strong balance sheet was instrumental in providing us with both the mezzanine financing and growth capital required to complete this transaction,a said Mark Hanson, Managing Director at Genstar. aAres Capitala™s flexible capital commitment was specifically tailored to support our companya™s growth plans."
About Netsmart Technologies, Inc.
Netsmart Technologies is an established, leading supplier of enterprise software and software as a service (SaaS) solutions for health and human services providers. More than 18,000 customer organizations, including 350,000 care providers and nearly 40 state systems, use Netsmart products to help improve the quality of life for millions of people each year. Netsmart customers include mental health and substance abuse treatment agencies, psychiatric hospitals, private and group mental health practices, public health departments, vital records offices and managed care organizations. Netsmarta™s products are full-featured information systems that operate on a variety of operating systems, hardware platforms, and mobile devices, and offer unlimited scalability. For more information about Netsmart Technologies, please visit [ www.ntst.com ].
About Genstar Capital, LLC
Genstar Capital ([ www.gencap.com ]) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than US$3 billion of committed capital under management and targets investments focused on selected sectors within the software, healthcare, financial services, and industrial technology industries.
About Ares Capital Corporation
Ares Capital is a closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Ares Capital is a specialty finance company that provides integrated debt and equity financing solutions to U.S. middle market companies. Ares Capital invests primarily in first and second lien loans and mezzanine debt, which in some cases includes an equity component. To a lesser extent, Ares Capital also makes equity investments. Ares Capital is externally managed by Ares Capital Management LLC, an affiliate of Ares Management LLC, a global alternative asset manager and a Securities and Exchange Commission registered investment adviser. As of March31, 2010, Ares Management has approximately $37 billion of committed capital under management (pro forma for Ares Capitala™s April2010 acquisition of Allied Capital).
FORWARD-LOOKING STATEMENTS
Statements included herein may constitute aforward-looking statements,a which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results and condition may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Ares Capital Corporationa™s filings with the Securities and Exchange Commission. Ares Capital Corporation undertakes no duty to update any forward-looking statements made herein.
