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Ares Commercial Finance Provides $10MM ABL to DCWV Acquisition

September 08, 2016, 07:41 AM
Filed Under: Manufacturing

Ares Commercial Finance announced it has provided a $10 million asset-based credit facility to DCWV Acquisition Corporation, a Provo, UT-based company that designs, manufactures, and sells innovative, high quality products to the paper crafting, stationery, home décor and bead and jewelry markets.  The senior credit facility consists of a working capital revolver secured by accounts receivable and inventory. The proceeds were used to refinance the company’s existing credit facility and to provide ongoing working capital.

DCWV has been a leader in the paper crafting, home décor and do-it-yourself bead/jewelry markets for over 20 years since its beginning in 1995.  The company has long pioneered products in a number of categories, including trend-driven and core paper stacks, innovative home décor products, and unique bead and jewelry offerings.  DCWV products are differentiated by their quality, trend-forward look and feel, innovation in design and materials, and a highly respected brand name.  The company’s products are found in leading craft, hobby and retail stores, including Jo-Ann Stores, Michaels, Walmart, AC Moore, Hobby Lobby and Target under the DCWV brand, Blue Moon Beads and as private label offerings.

Ares Commercial Finance (“ACF”) is the asset-based lending group for 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.

Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $95 billion of assets under management as of June 30, 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.

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