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Ares Commercial Finance Provides Senior Secured Credit Facility to Pegasus Foods

December 17, 2018, 07:00 AM
Filed Under: Food Services

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. 

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