ABACUS FINANCE CLOSES $16.75 MILLION SENIOR FINANCING FOR VICENTE CAPITAL PARTNERS’ INVESTMENT IN GLOBAL LT, INC.


July 15, 2014 - Abacus Finance Group, LLC (Abacus), a New York-based specialty lending company dedicated to providing cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced today that it served as Administrative Agent and Sole Lead Arranger for $16.75 million in senior secured credit facilities to support Vicente Capital Partners’ investment in Global LT, Inc.

Global LT, Inc., based in Troy, MI, is a leading provider of outsourced language training, translation and mobility solutions that empower corporate employees to live and work successfully anywhere in the world. Vicente Capital Partners is a private equity firm specializing in both non-control and control equity investments in growth businesses that have annual revenues between $5 million and $50 million.

“The Abacus Finance team proved to be a trusted partner on a transaction that required a tight turnaround,” said Jay Ferguson, Managing Partner at Vicente Capital Partners. “Abacus delivered certainty of close at the outset, flexibility on structure, and a high level of support throughout the process.” 

“We were excited to work with Vicente Capital Partners,” said Tim Clifford, President and CEO of Abacus. “The firm’s investment strategy and its expertise in consumer services, business services, and specialty manufacturing make it the perfect match for Abacus’ lending platform. Smooth, rapid due diligence and certainty of close – important facets of the Abacus Finance Total Partnership Approach™ - were critical to the success of the transaction.”

Abacus team members involved in the transaction included Timothy Wong and Eric Petersen, and legal counsel was provided to Abacus by Goulston & Storrs, LLP.

About Global LT, Inc.

Founded in 1979 and based in Troy, MI, Global LT, Inc. is a leading provider of outsourced language training, translation and mobility solutions that empower corporate employees to live and work successfully anywhere in the world. The Company serves multinational corporations with a comprehensive portfolio of communication and relocation services that ensure smooth transitions for employees and their families in what can be a complex and challenging process. Drawing on a distributed talent network built over 30 years and in over 3,400 locations worldwide, Global LT is able to offer flexible communication solutions anywhere in the world leveraging the linguistic and cultural expertise of over 2,800 trainers, translators and relocation specialists. Visit global-lt.com for more information.

About Vicente Capital Partners

Vicente Capital Partners makes non-control and control equity investments in growth businesses that have annual revenues between $5 million to $50 million. The firm has a long track record of successfully partnering with management teams to create and realize value across a number of different industries including business services, consumer services, and specialty manufacturing. Investors in Vicente Capital Partners’ private equity fund include some of the nation’s premier institutional investors. Visit vicentecapital.com for more information.

About Abacus Finance Group, LLC

Abacus Finance is a specialty 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 $50 million with a typical hold size ranging from $10 million to $25 million, and the companies it finances generally have EBITDA between $3 million and $15 million. Abacus is an affiliate of New York Private Bank & Trust, the holding company for Emigrant Bank, 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, industry knowledge and exceptional client service over the lifecycle of each investment.