ABACUS FINANCE SUPPORTS WESTVIEW CAPITAL PARTNERS’ RECAPITALIZATION/GROWTH INVESTMENT IN ABACUS GROUP, LLC


New York, NY, July 26, 2017 - Abacus Finance (Abacus Finance), a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, middle market companies, announced today that it served as the Administrative Agent and Sole Lead Arranger of senior secured credit facilities for Abacus Group LLC (Abacus Group), a WestView Capital (WestView) portfolio company.

Founded in 2008, Abacus Group, LLC (Abacus Group) is a provider of managed IT solutions and infrastructure to the financial services industry, enabling clients to completely outsource all of their IT needs. WestView Capital Partners is a Boston-based private equity firm focused exclusively on middle market growth companies and manages approximately $1 billion in capital across three funds.

“We have enjoyed a long-term relationship with Abacus Finance, and once again they took the time to fully understand the cash flow needs of the business and provided a financing solution to support growth,” said WestView Principal Greg W. Thomas.

“Abacus Group is an established leader in the managed IT services industry serving the hedge fund and financial institutions market,” said Tim Clifford, President and CEO of Abacus Finance. “We were extremely impressed with the senior management team and are excited to be their financing partner as they embark on the next stage of growth. As in other transactions, our success was a function of our speed, cash-flow flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach.”

Abacus Finance team members involved in the transaction included Sean McKeever and Brian Green. Legal counsel was provided to Abacus Finance by Goulston & Storrs, PC.

About Abacus Group, LLC

Abacus Group, LLC is a leading provider of managed IT solutions focused on helping hedge funds, private equity funds and other financial institutions deploy and manage their IT. The Company’s scalable, secure and highly available private cloud IT platform allows investment managers to run all their technology as a service, providing firms with peace of mind and the ability to focus on their core business without sacrificing performance, security or resiliency. The Company is based in San Francisco, CA with additional offices in New York, NY; Boston, MA; Greenwich, CT; Dallas, TX; Charlotte, NC; Los Angeles, CA; and London, England. For more information, visit www.abacusgroupllc.com

About WestView Capital Partners

WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1 billion in capital across three funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as software and IT services, healthcare technology and outsourcing, business services, consumer, and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $50 million. Visit www.wvcapital.com for more information.

About Abacus Finance Group, LLC

Abacus Finance is a direct lending company, focused on providing cash flow senior financing to private equity-sponsored, lower-middle market companies nationwide.  Formed in June 2011, Abacus targets debt financing opportunities of up to $60 million with a typical hold size ranging from $10 million to $30 million, and finances companies with EBITDA between $3 million and $15 million. Abacus is an affiliate of New York Private Bank & Trust which was founded in 1850. 

Abacus Finance is headquartered at 6 East 43rd Street, 20th Floor, New York, NY 10017. All inquiries and new investment opportunities should be directed to Tim Clifford at 212-850-4620 or to cliffordt@abacusfinance.com. Visit abacusfinance.com for more information.

The Total Partnership Approach, which is a registered trademark of Abacus Finance, LLC, brings cash-flow financing expertise, deep industry knowledge and exceptional client service over the lifecycle of each investment.