Key Takeaways
- • Ares Management Corp. is leading a private credit financing of about €1.4 billion ($1.7 billion) for Scandinavian software business EG A/S, according to people with knowledge of the matter cited by Bloomberg.
- • Ares is partnering with Park Square Capital and Sumitomo Mitsui Banking Corp. to provide the debt package.
- • The package includes a line of credit earmarked for future acquisitions, signaling EG's continued expansion strategy.
Summary
Ares Management Corp. is leading a private credit financing of approximately €1.4 billion ($1.7 billion) for EG A/S, a Scandinavian software business, according to people with knowledge of the matter cited by Bloomberg. The sources requested anonymity because the discussions are private.
The private credit firm is working alongside other lenders, including Park Square Capital and Sumitomo Mitsui Banking Corp., to assemble the debt package. Per the report, the financing includes a line of credit that can be used for future acquisitions, indicating that EG is positioning itself to fund further deal activity beyond its current capital needs.
The transaction underscores the continued role of large private credit managers in financing mid-sized European technology and software companies, a segment where bank lending has been more constrained. Bloomberg also reported separately on Ares' broader leadership in private credit, an area the publication describes as primed for a shakeout as competition intensifies. Terms such as pricing, maturity, and covenant structure were not disclosed in the available reporting.
The private credit firm is working alongside other lenders, including Park Square Capital and Sumitomo Mitsui Banking Corp., to assemble the debt package. Per the report, the financing includes a line of credit that can be used for future acquisitions, indicating that EG is positioning itself to fund further deal activity beyond its current capital needs.
The transaction underscores the continued role of large private credit managers in financing mid-sized European technology and software companies, a segment where bank lending has been more constrained. Bloomberg also reported separately on Ares' broader leadership in private credit, an area the publication describes as primed for a shakeout as competition intensifies. Terms such as pricing, maturity, and covenant structure were not disclosed in the available reporting.
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