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.
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