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Ares Commercial Finance Provides $22.53MM Credit Facility to Carey Holdings

December 08, 2016, 07:49 AM
Filed Under: Transportation

Ares Commercial Finance announced that it has provided a $22.53 million senior-secured credit facility to Carey Holdings, Inc. Based in Maryland, Carey is the world’s leading integrated-network ground transportation brand serving the managed travel market.  Specializing in complex, pre-arranged transportation services, the company delivers certainty of execution through a unique, technology-enabled services network model that spans the globe and delivers the highest duty of care in the industry.  The credit facility consists of a working capital revolver and a letter of credit facility.  

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 $97 billion of assets under management as of September 30, 2016 and more than 15 offices in the United States, Europe and Asia.

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