Business & Finance
Wed, January 19, 2011Tue, January 18, 2011Mon, January 17, 2011Fri, January 14, 2011Thu, January 13, 2011Wed, January 12, 2011Tue, January 11, 2011Mon, January 10, 2011Sat, January 8, 2011Fri, January 7, 2011Thu, January 6, 2011Wed, January 5, 2011Tue, January 4, 2011Ares Capital Corporation Closes Significant New Financing Commitment During the Fourth Quarter of 2010
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Published in Business and Finance on Wednesday, January 12th 2011 at 5:11 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
NEW YORK--([ BUSINESS WIRE ])--Ares Capital Corporation (NASDAQ: ARCC) announced today that it closed a new primary debt financing during the fourth quarter totaling $145 million to Sunquest Information Systems, Inc., a leading provider of laboratory software solutions for hospitals.
"This financing demonstrates our commitment to use our significant balance sheet and scale to lead financing tranches in high-quality middle market companies with attractive risk/reward profiles"
Ares Capital acted as a lead debt investor in the transaction by committing $145 million in a $245 million second lien term loan. The recapitalization, led by Huntsman Gay Global Capital LLC, was in partnership with Vista Equity Partners, which has owned Sunquest Information Systems since 2007 and is retaining a significant stake in the business.
aThis financing demonstrates our commitment to use our significant balance sheet and scale to lead financing tranches in high-quality middle market companies with attractive risk/reward profiles,a said Michael Arougheti, President of Ares Capital Corporation. aWe are excited to be supporting these highly experienced investors and the talented management team at Sunquest.a
aWe are very pleased that Ares Capital is committing significant capital in support of our investment in Sunquest,a said Steve Young, Managing Director of Huntsman Gay Global Capital. aWe look forward to a successful relationship with Ares Capital as we partner with Sunquest management to build on the companya™s leadership position in diagnostic information solutions.a
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. With offices in Atlanta, Chicago, Los Angeles, New York and Washington, D.C., 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 December 31, 2010, Ares Management LLC had approximately $39 billion of committed capital under management. For more information, visit [ www.arescapitalcorp.com ].
About Sunquest Information Systems, Inc.
Sunquest Information Systems, Inc. delivers market leading diagnostic information technology and outreach solutions designed and implemented to fulfill the business objectives of todaya™s healthcare leaders. Headquartered in Tucson, Arizona, the company has offices in Raleigh, North Carolina; Norwich, United Kingdom; and Bangalore, India. Sunquest serves the global marketplace with reliable technology required for mission critical applications. These solutions provide the foundation to optimize the healthcare experience, deliver safe, effective, and timely patient care, expand community reach, and transform the delivery of healthcare with predictive and personalized medicine. For more information, visit [ www.sunquestinfo.com ].
About Vista Equity Partners
Vista Equity Partners based in San Francisco with offices in Chicago and Austin, currently invests over $2 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support toward companies realizing their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, visit [ www.vistaequitypartners.com ].
About Huntsman Gay Global Capital LLC
Huntsman Gay Global Capital is a private equity firm that brings unrivaled experience to the middle market -- offering all the advantages of both a strategic and a financial buyer in one firm. Co-founded by Jon M. Huntsman, one of the world's leading industrialists, and Robert C. Gay, a former managing director of Bain Capital, the firm focuses on middle market leveraged buyouts and growth equity investments. For more information, visit [ www.hgequity.com ].
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.
