Ares Commercial Finance Provides a Senior Secured Revolving Line of Credit to Support the Acquisition of Continental Battery Company

Ares Commercial Finance announced that it has provided a senior secured revolving line of credit to support the acquisition of Continental Battery Company by H.I.G. Capital, LLC. Headquartered in Dallas, TX, Continental Battery is a distributor of aftermarket batteries, used in a wide variety of applications including electric utility vehicles/golf carts, auto, commercial trucks and recreational vehicles/boats.

About Continental Battery Company

Continental Battery is a leading distributor of aftermarket batteries with headquarters in Dallas, TX and 90+ locations across Central & Southeastern U.S.  The company serves a highly diverse customer base of ~25,000 dealers and customers. Continental Battery’s products are sold into a variety of end markets including warehouse distributors, jobbers, repair shops and retailers. For more information about Continental Battery Company please visit  https://www.continentalbattery.com.  

About H.I.G. Capital

H.I.G. is a leading global private equity and alternative assets investment firm with $43 billion of equity capital under management.  Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as International affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach.  Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide.  The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.  For more information please refer to the H.I.G. website at www.higcapital.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 December 31, 2020, Ares Management's global platform had approximately $197 billion of assets under management with more than 1,450 employees operating across North America, Europe and Asia Pacific. For more information, please visit www.aresmgmt.com.