The Senior Direct Lending Program (“SDLP”), a joint venture between Ares Capital Corporation (“Ares Capital”) (NASDAQ:ARCC) and Varagon Capital Partners (“Varagon”), announced today that during the second quarter SDLP made over $600 million of commitments to six borrowers.

Including these investments, SDLP has provided over $1.9 billion of financing to 17 borrowers and 18 financial sponsors since its formation in 2015. SDLP has nearly $3 billion of investment capacity, in addition to any investments Ares Capital and Varagon may make alongside SDLP.

Below is a description of three transactions that closed during the second quarter.

OnSolve / Veritas Capital

Ares Capital and Varagon served as joint lead arrangers and joint bookrunners for a senior secured credit facility in support of the strategic acquisition of Send Word Now by OnSolve, a Veritas Capital portfolio company. OnSolve is a leading global provider of SaaS-based critical communication solutions for enterprise, SMB, and government customers.

Woodstream / Vestar Capital

Ares Capital and Varagon served as joint lead arrangers and joint bookrunners for a senior secured credit facility to further support the growth of Woodstream. Woodstream is a marketer and manufacturer of branded natural solution products for pest control, wild bird feeding products, caring control products for pets & wildlife, and rodent control products.

Excelligence Learning Corporation / Brentwood Associates

Ares Capital and Varagon served as joint lead arrangers and joint bookrunners for a senior secured credit facility to Excelligence Learning Corporation to refinance existing debt and fund the acquisition of Frog Street Press. Excelligence Learning Corporation is a leading developer, manufacturer, distributor, and multi-channel retailer of over 20,000 innovative, high-quality and grade-appropriate educational products and teaching solutions, which are sold primarily to early childhood learning centers, elementary schools, PTAs, and consumers.

About the Senior Direct Lending Program

SDLP invests in senior secured loans to middle market companies, including stretch senior and unitranche loans, and has a hold size of up to $300 million. SDLP lends to borrowers across industries that seek the speed and certainty of closing provided by large commitments and simplicity of documentation. SDLP is a joint venture between Ares Capital Corporation and Varagon Capital Partners.

About Ares Capital Corporation

Ares Capital is a leading specialty finance company that provides one-stop debt and equity financing solutions to U.S. middle market companies, venture capital backed businesses and power generation projects. Ares Capital originates and invests in senior secured loans, mezzanine debt and, to a lesser extent, equity investments through its national direct origination platform. Ares Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments primarily in private companies. Ares Capital has elected to be regulated as a business development company (“BDC”) and as of June 30, 2017, was the largest BDC by total assets and market capitalization. Ares Capital is externally managed by a subsidiary of Ares Management, L.P. (NYSE:ARES), a publicly traded, leading global alternative asset manager. For more information about Ares Capital visit www.arescapitalcorp.com. However, the contents of such website are not and should not be deemed to be incorporated by reference herein.

About Varagon Capital Partners

Varagon is a direct lender that offers a broad suite of financing solutions to middle market companies and financial sponsors. Varagon lends across the capital structure with commitments from institutional investors seeking exposure to quality, middle market loans originated through long-term relationships with financial sponsors. As of June 30, 2017, Varagon had nearly $4 billion of capital available for investment and over $3 billion of assets under management. For more information about Varagon, visit www.varagon.com.