Ares Commercial Finance Provides $15 Million Senior Secured Credit Facility to PS Energy Group, Inc.

August 2, 2022 – Ares Commercial Finance announced today that it has provided a $15 million senior secured credit facility to PS Energy Group, Inc.  PS Energy is a privately-owned, certified diverse and women-owned enterprise that provides transportation fuels, emergency fueling and fleet management technology and services to utilities, government and enterprise clients. The credit facility consists of an asset based revolving line of credit. Proceeds of the credit facility will be used to refinance existing indebtedness and for ongoing working capital. 

About PS Energy Group, Inc. (“PS Energy”)

Founded in 1985, PS Energy Group is a privately-owned, Atlanta-based company and one of the nation’s top hispanic-owned businesses. PS Energy provides fuels for fleets and facilities, emergency fueling and fuel management services; including etrac®. Etrac is a wireless platform providing vehicle telematics and tank  monitoring to improve productivity, profitability and the quality of the environment through better asset and fuel inventory  management. Founder, President, and CEO, Livia Whisenhunt built PS Energy to support the unique needs of the energy industry, developing, implementing, and managing supply and infrastructure solutions including pipelines and commercial fueling facilities.  Under her leadership, PS Energy has become one of the top diversity and women-owned companies in the nation. Learn more about PS Energy at www.psenergy.com.

About Ares Commercial Finance

Ares Commercial Finance (“ACF”) is the asset-based lending team of Ares Management Corporation. ACF is focused on providing credit facilities up to $300 million to middle market and lower-middle market, private and public companies; and addresses a wide scope of industries including manufacturing, distribution, wholesale, retail, and service companies.  These facilities include revolving lines of credit and term loans, asset-based and cash flow stretch loans, and 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 customized financing solutions.  These financing solutions may be structured as working capital financing, bridge financing, turnaround financing, acquisition financing, debtor-in-possession financing, and special accommodation financing. For more information about Ares Commercial Finance, visit www.arescommercialfinance.com.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2022, Ares Management Corporation's global platform had approximately $334 billion of assets under management, with over 2,300 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com. Follow Ares on Twitter @Ares_Management.

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