Ares Management is leading a private credit financing of around €1.4bn for Scandinavian software provider EG, according to a report by Bloomberg citing people familiar with the matter.
The debt package is being provided alongside other lenders, including Park Square Capital and Sumitomo Mitsui Banking Corporation, and includes a revolving credit facility to support future acquisitions.
EG was founded in 1977 and delivers SaaS products to public and private sector clients. Since being acquired by private equity firm Francisco Partners in 2019, the company has completed more than 40 acquisitions and generates annual pro forma EBITDA of over €163m.
Ares is one of the largest direct lenders operating in Europe and recently raised around €30bn for its latest private credit fund vintage.
