TSL Express Daily News

NEW YORK – September 23, 2025 – Ares Commercial Finance (“ACF”) announced today that it served as Administrative Agent to provide a $150 million senior secured asset-based revolving line of credit to DP Corporation, d/b/a Lifted Trucks (“Lifted Trucks” or the “Company”). Lifted Trucks, a portfolio company of Nonantum Capital Partners and TRP Capital Partners, is a Phoenix, Arizona-based upfitter and dealer of custom pickup trucks, Broncos, SUVs and Jeeps. The Company’s existing lender, UMB Bank, n.a. also participated in the financing.

“We are excited to collaborate with Lifted Trucks’ management team and their financial sponsors Nonantum and TRP to provide flexible financing for the Company,” said Srid Kannan, Managing Director, Ares Commercial Finance. “Lifted Trucks has demonstrated impressive growth and built a robust collateral base, making this a compelling opportunity for ACF to support their continued success.”

“We are pleased to provide our financial support to Lifted Trucks as it executes its strategic growth plan,” added Ryan Magee, Partner, Ares Commercial Finance. “We look forward to building a long-term, productive relationship with the Company and continuing our collaboration with Nonantum and TRP.”

“I am excited to announce this investment from Ares Commercial Finance, whose outstanding team and innovative financing expertise perfectly complement our dedication to quality,” said James Pillor, Co-President of Lifted Trucks. “This new relationship is a terrific outcome and enhances our ability to deliver the highest quality custom trucks and world-class customer service to even more markets across the country.”

Proceeds from the financing will be used to replace and upsize its existing credit facility to support the Company for future growth.

About Lifted Trucks

Lifted Trucks has been a leader in the automotive industry for three decades. The Company has built a reputation for selling the highest quality custom trucks and providing world class customer service. With 13 dealerships spanning Texas, Tennessee, Alabama, and Arizona, our team of over 300 skilled professionals delivers thousands of one-of-a-kind lifted trucks and SUVs annually. From Ford, Chevrolet, RAM, Toyota, Nissan, GMC, to Jeep, each vehicle is transformed with premium off-road parts and accessories by the expert craftsmen at The Lift Shop, ensuring unparalleled quality and style. Discover the Lifted Trucks difference for yourself at https://www.liftedtrucks.com/ or follow the Company on Instagram, Facebook, YouTube, LinkedIn or Tik Tok. 

About Nonantum Capital Partners

Founded in 2018 by a team of experienced private equity and management executives as a spin-off from Charlesbank Capital Partners, Nonantum is a Boston-based middle-market private equity firm. Nonantum focuses on investing in family- and founder-owned businesses, corporate carve-outs, and complex situations where personal partnerships are critical, and opportunities exist for significant equity value creation. For more information, visit http://nonantumcapital.com/.

About TRP Capital Partners

TRP Capital Partners (“TRP”) seeks to make growth oriented investments in the transportation sector. TRP capitalizes on its strategic relationships, commercial synergies, and the transportation expertise of its partners and affiliates. TRP’s philosophy is to support existing management teams while giving them autonomy to run the business. TRP’s principals have 125+ years of transportation-related investment experience. For more information about TRP Capital Partners, visit www.trpfund.com.

About Ares Commercial Finance

Ares Commercial Finance (“ACF”) is the commercial finance platform of Ares Management Corporation. ACF provides credit facilities up to $500 million to middle market and lower-middle market companies. ACF addresses a wide scope of industries including manufacturing, distribution, wholesale, retail and consumer products and services as well as hospitals, skilled nursing facilities, and all other segments of the healthcare sector. Leveraging the diverse product offering and experience of the Ares platform, ACF collaborates with borrowers to deliver creative, flexible, and customized financing solutions for a variety of financing needs: general refinancing, working capital/growth, acquisitions, restructuring/turnaround situations, debtor-in-possession/exit financing, and special accommodation financing. For more information on ACF visit https://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, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for our investors 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, 2025, Ares Management Corporation's global platform had over $572 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

Media Contacts:

Ares Management
media@aresmgmt.com