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Stock impact report

Ares backs BC Partners' takeover of VetPartners [Reuters]

Ares Management Corporation Class A (ARES) 
Last ares management corporation class a earnings: 2/13 06:00 am Check Earnings Report
US:NYSE Investor Relations: ares-ir.com
Company Research Source: Reuters
Ares backs BC Partners' takeover of VetPartners | Reuters 2 Min Read Aug 10 (LPC) - Direct lending fund Ares Management has committed £595m in financing to back private equity firm BC Partners’ acquisition of UK-based VetPartners, according to a source familiar with the situation. The financing is split between a £320m super senior and unitranche facilities, £100m in PIK notes and a £175m committed acquisition facility, according to the source. BC Partners acquired VetPartners for £700m from August Equity, which has held a majority stake in the company since 2015. The company’s Ebitda is £50m and in the last few years has expanded outside of its North of England base to operate nationally. The company manages more than 300 locations and recently acquired farm production animal vet Origin Group. Ares first invested in the company in 2015 and earlier this year Ares acquired a 40% after it invested £500m in a mixture of unitranche and preference shares to support the recapitalisation of Show less Read more
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