Ares Commercial Finance Provides a $30 Million Credit Facility to InterDesign, Inc.
September 10, 2024
Source: Ares Commercial Finance
NEW YORK – September 11, 2024 – Ares Commercial Finance announced today that it has provided a $30 million senior secured revolving line of credit to InterDesign, Inc. (“iDesign” or the “Company”). The Company, based in Solon, Ohio, is a global leader in housewares distribution, providing innovative and sustainable home organization solutions. Proceeds from the financing enabled the Company to refinance existing indebtedness and will provide additional capital, liquidity and flexibility for working capital purposes.
About iDesign
iDesign was founded in 1974, and began as a housewares design company. Based in Solon, Ohio, just outside of Cleveland, iDesign has grown to be a global leader in housewares with distribution facilities in the USA, Europe and China selling to over 100 countries. At iDesign, our purpose is to simplify and enhance people's lives by providing innovative and sustainable home organization solutions. We believe that by creating thoughtfully designed products made from quality materials, we can transform the way individuals organize and improve their homes. Our brand's core purpose is to make everyday life easier for our customers, offering them the tools and inspiration they need to create more functional and beautiful living spaces. For more information on iDesign visit https://idesignlivesimply.com/.
About Ares Commercial Finance
Ares Commercial Finance (“ACF”) is the commercial finance platform of Ares Management Corporation. ACF provides credit facilities up to $300 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 service. 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 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 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 June 30, 2024, Ares Management Corporation's global platform had over $447 billion of assets under management, with more than 2,950 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
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