Ares Commercial Finance has Provided a $100 Million Senior Secured Credit Facility to Pace Industries, LLC

Ares Commercial Finance announced that it has provided a $100 million senior secured credit facility to Pace Industries, LLC, an entity owned by funds and accounts managed by TCW Asset Management Company and by affiliated funds and accounts of Cerberus Capital Management, L.P. Headquartered in Fayetteville, Arkansas, Pace Industries is one of North America’s largest high-pressure aluminum, magnesium and zinc die casting companies serving over 400 OEMs/Tier 1 customers. The credit facility consists of a senior secured revolving line of credit, which will be used to refinance its existing revolving line of credit and for ongoing working capital support.

About Pace Industries

Strategically located throughout North America, Pace operates a diverse manufacturing footprint with 12 die cast plants in the USA and Mexico, 2 tool and die shops, 2 finishing and painting facilities, 1 plastic injection molding plant and 1 machine and fixture building shop. Pace offers a wide array of services and capabilities to blue-chip house-hold name customers across numerous industries including automotive and trucking, powersports, barbecue grills, recreational vehicles, lawn and garden, lighting, electrical, medical, defense and aerospace.  Pace offers unmatched end-to-end value-added solutions which include early supplier engineering support and design, post-casting machining and other finishing services including shot blasting, impregnation, tumbling, chromating, wet painting, powder coating, polishing and assembly. For more information about Pace Industries, please visit www.paceind.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 operating integrated groups across Credit, Private Equity, Real Estate and Strategic Initiatives. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent, attractive investment returns for fund investors throughout market cycles. As of September 30, 2020, Ares Management's global platform had approximately $179 billion of assets under management with more than 1,400 employees operating across North America, Europe and Asia Pacific.  For more information, please visit www.aresmgmt.com.