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Yahoo
a day ago
- Business
- Yahoo
Ares and Ansley Park Capital provide asset-based and equipment financing to Shimmick
Ares Commercial Finance (ACF) and Ansley Park Capital have provided asset-based and equipment financing to US-based infrastructure solutions provider Shimmick. The financing package includes a $15m senior secured revolving line of credit from ACF and a $15m machinery and equipment term loan from Ansley Park Capital, an affiliate of Ares Management. Shimmick plans to use the proceeds from this financing to refinance existing indebtedness and enhance the company's liquidity. The funding will also aid the company in accelerating economic growth and aid communities nationwide through infrastructure development. ACF partner Mitch Drucker said: 'Our goal from the beginning was to provide Shimmick with a one-stop solution for working capital and equipment finance needs. 'Ares and Ansley Park worked in lockstep to customise a credit facility that met Shimmick's immediate and longer-term financing goals. We look forward to supporting the company [Shimmick] as they manage their robust pipeline of projects in 2025 and beyond.' Shimmick offers infrastructure solutions in markets such as water, climate resilience, energy transition, and sustainable transportation. It integrates technical expertise with collaborative project delivery methods to provide technology-driven infrastructure solutions. Ansley Park Capital executive and chief commercial officer Michael Gay said: 'We are proud to invest in a company that has consistently delivered high-impact infrastructure solutions for over 30 years. 'Our customised financing approach ensures that experienced operators have access to the capital they need to optimise performance and pursue long-term growth.' The commercial finance platform of Ares Management, ACF provides credit facilities up to $500m to middle-market and lower-middle-market companies across various industries, including manufacturing, retail and healthcare. "Ares and Ansley Park Capital provide asset-based and equipment financing to Shimmick" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Ares Commercial Finance and Ansley Park Capital Provide Asset Based and Equipment Financing to Shimmick Corporation
NEW YORK, May 28, 2025--(BUSINESS WIRE)--Ares Commercial Finance ("ACF") announced today that it has provided a $15 million senior secured revolving line of credit to Shimmick Corporation ("Shimmick" or the "Company"), an Irvine, California-based infrastructure solutions provider in water, climate resilience, energy transition and sustainable transportation. Ansley Park Capital ("Ansley Park"), an affiliate of Ares Management, provided a complementary $15 million machinery and equipment term loan, the combination of which delivered a complete financing solution. "Our goal from the beginning was to provide Shimmick with a one-stop solution for working capital and equipment finance needs," said Mitch Drucker, Partner, Ares Commercial Finance. "Ares and Ansley Park worked in lockstep to customize a credit facility that met Shimmick's immediate and longer-term financing goals. We look forward to supporting the Company as they manage their robust pipeline of projects in 2025 and beyond." Speaking on behalf of Ansley Park Capital, Michael Gay, Executive and Chief Commercial Officer, said: "We are proud to invest in a company that has consistently delivered high-impact infrastructure solutions for over 30 years. Our customized financing approach ensures that experienced operators have access to the capital they need to optimize performance and pursue long-term growth." Proceeds from the working capital financing will be used to refinance existing indebtedness and provide the Company additional liquidity. About Shimmick Corporation Shimmick Corporation ("Shimmick", the "Company") (NASDAQ: SHIM) is an industry leader in delivering turnkey infrastructure solutions that strengthen critical markets across water, energy, climate resiliency, and sustainable transportation. We integrate technical excellence with collaborative project delivery methods to provide innovative, technology-driven infrastructure solutions that accelerate economic growth and empower communities nationwide. With a track record that spans over a century, Shimmick, headquartered in California, unites deep engineering heritage with entrepreneurial spirit to tackle today's most complex infrastructure challenges. For more information, visit About Ares Commercial Finance Ares Commercial Finance 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 and healthcare. Leveraging the breadth and experience of the Ares platform, ACF works 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 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 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 March 31, 2025, Ares Management Corporation's global platform had approximately $546 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit About Ansley Park Capital Ansley Park Capital is a premier lending and specialty finance platform focused on delivering flexible and customized financing solutions for essential-use, large-ticket equipment and machinery across a multitude of asset types and industries. At Ansley Park Capital, we tap into the responsiveness, flexibility, and creativity of a highly experienced team with unmatched access across the equipment finance industry to serve a broad community of borrowers to meet their individual needs with full product capabilities. Our approach to working with our clients is simple: we strive to understand our customers, take the time to underwrite their business, and provide tailored financing solutions to help them grow their businesses today and well into the future. For more information on Ansley Park Capital, please visit View source version on Contacts Media Contacts: Ares Management media@ Ansley Park Capital Eric Miller+1 914 450 4967 | Error while retrieving data Sign in to access your portfolio Error while retrieving data
Business Wire
3 days ago
- Business
- Business Wire
Ares Commercial Finance and Ansley Park Capital Provide Asset Based and Equipment Financing to Shimmick Corporation
NEW YORK--(BUSINESS WIRE)--Ares Commercial Finance ('ACF') announced today that it has provided a $15 million senior secured revolving line of credit to Shimmick Corporation ('Shimmick' or the 'Company'), an Irvine, California-based infrastructure solutions provider in water, climate resilience, energy transition and sustainable transportation. Ansley Park Capital ('Ansley Park'), an affiliate of Ares Management, provided a complementary $15 million machinery and equipment term loan, the combination of which delivered a complete financing solution. We are proud to invest in a company that has consistently delivered high-impact infrastructure solutions for over 30 years. Our customized financing approach ensures that experienced operators have access to the capital they need. Share 'Our goal from the beginning was to provide Shimmick with a one-stop solution for working capital and equipment finance needs,' said Mitch Drucker, Partner, Ares Commercial Finance. 'Ares and Ansley Park worked in lockstep to customize a credit facility that met Shimmick's immediate and longer-term financing goals. We look forward to supporting the Company as they manage their robust pipeline of projects in 2025 and beyond.' Speaking on behalf of Ansley Park Capital, Michael Gay, Executive and Chief Commercial Officer, said: 'We are proud to invest in a company that has consistently delivered high-impact infrastructure solutions for over 30 years. Our customized financing approach ensures that experienced operators have access to the capital they need to optimize performance and pursue long-term growth.' Proceeds from the working capital financing will be used to refinance existing indebtedness and provide the Company additional liquidity. About Shimmick Corporation Shimmick Corporation ("Shimmick", the "Company") (NASDAQ: SHIM) is an industry leader in delivering turnkey infrastructure solutions that strengthen critical markets across water, energy, climate resiliency, and sustainable transportation. We integrate technical excellence with collaborative project delivery methods to provide innovative, technology-driven infrastructure solutions that accelerate economic growth and empower communities nationwide. With a track record that spans over a century, Shimmick, headquartered in California, unites deep engineering heritage with entrepreneurial spirit to tackle today's most complex infrastructure challenges. For more information, visit About Ares Commercial Finance Ares Commercial Finance 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 and healthcare. Leveraging the breadth and experience of the Ares platform, ACF works 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 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 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 March 31, 2025, Ares Management Corporation's global platform had approximately $546 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit About Ansley Park Capital Ansley Park Capital is a premier lending and specialty finance platform focused on delivering flexible and customized financing solutions for essential-use, large-ticket equipment and machinery across a multitude of asset types and industries. At Ansley Park Capital, we tap into the responsiveness, flexibility, and creativity of a highly experienced team with unmatched access across the equipment finance industry to serve a broad community of borrowers to meet their individual needs with full product capabilities. Our approach to working with our clients is simple: we strive to understand our customers, take the time to underwrite their business, and provide tailored financing solutions to help them grow their businesses today and well into the future. For more information on Ansley Park Capital, please visit
