Platinum Credit Opportunities Funds (PCOF) and Ares Commercial Finance (ACF) provided financing to support Kingswood Capital Management’s acquisition of Daramic, a Charlotte, NC-based global leader in supplying polyethylene and phenolic resin-based battery separators to the lead battery industry.
“This financing highlights our ability to support strong businesses with thoughtful capital solutions, even in a dynamic market,” Jacob Kotzubei and Louis Samson, co-presidents of Platinum Equity, said. “Our approach combines industry insight with hands-on resources and experience that we believe deliver meaningful value to borrowers and their sponsors.”
The Daramic financing was led by Platinum Equity’s dedicated credit team, which provides debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations.
“We approach every investment with a long-term, partnership-oriented mindset,” Michael Fabiano, managing director and global head of credit for Platinum Equity, said. “We believe Daramic is a great fit and exemplifies the type of business where our credit platform can be highly additive.”
George Couladis, managing director of Ares Commercial Finance, added, “This investment underscores our commitment to collaborating with leading sponsors and high-quality businesses, as well as our ability to provide flexible capital solutions to support long-term growth. We look forward to continuing our work with KCM and Daramic’s management team at a pivotal time in the company’s evolution.”
Andrew Kovach, partner of Kingswood Capital Management, concluded, “We are excited to work with Platinum and Ares, whose deep industrials experience makes them well positioned to support Daramic’s strategic initiatives and long-term value creation as a standalone company.”