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Ares Commercial Finance Provides Senior Secured Credit Facility to Pegasus Foods

December 10, 2018, 09:00 AM

Ares Commercial Finance (“ACF”) announced that it has provided a senior secured credit facility to Pegasus Foods, Inc.  The arrangements consist of a revolving line of credit and a capital expenditure line of credit.  These facilities are in addition to a substantial growth capital investment from New Water Capital L.P. that Pegasus received earlier this year.  Proceeds of the ACF financing will be used to support the continued physical build-out of the Company’s state-of-the-art 135,000-square-foot manufacturing facility in Rockwall, TX, which will provide the Company with increased manufacturing capacity to support additional growth requirements of Pegasus’ blue-chip customer base. The facilities provided by ACF will also finance recently purchased and future purchases of capital equipment and support ongoing working capital needs. 

Pegasus Foods, LLC is a leading contract manufacturer of frozen appetizers and snacks.  Specializing in high-quality, difficult to produce products, Pegasus is a primary contract manufacturer for several consumer packaged goods and retail grocery companies, as well as quick service restaurants.   For more information visit

New Water Capital, L.P. is a private equity firm focused on lower-middle market companies in transition, in the consumer, retail and industrial manufacturing and services sectors, with revenues of $30 million to $300 million.  New Water Capital’s collaborative transaction and operating model is built specifically to support companies in transition, building on their unique cultures and strengths.  For more information visit 

Ares Commercial Finance (“ACF”) is the asset-based lending group of Ares Management Corporation providing asset-based revolving lines of credit and term loans, as well as stretch loans to middle market and lower-middle market companies. ACF provides cash flow loans to 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 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. 

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