October 2011 - Abacus Finance Group, LLC (Abacus), a recently formed New York-based specialty finance company, announced today that, acting as Administrative Agent and Sole Lead Arranger, it had provided senior secured credit facilities to WestView Capital Partners (WestView) to support the recapitalization of LDiscovery, LLC (LDiscovery). The amount of the transaction was not disclosed. In addition to providing the financing, Abacus, which focuses exclusively on providing cash flow financing for private equity-sponsored, lower middle-market companies, made an equity co-investment in LDiscovery.

Located in McLean, VA, LDiscovery is a leader in end-to-end e-discovery management solutions – from data collection through trial. The company provides its services to law firms, corporations and government agencies. Co-founder and President Christopher Weiler, who remains an investor in LDiscovery, will continue to lead the company through the next stage of its growth. WestView Capital Partners, a Boston-based private equity firm focused exclusively on lower middle market companies, manages over $500 million in capital. Legal counsel to Abacus was provided by Goulston & Storrs LLP.

“Selecting Abacus Finance for this transaction was an easy decision,” said Rick Williams, WestView Managing Partner. “We have known the principals for years, and they have led a number of transactions for us. The Abacus team has deep experience in the technology-enabled business services sector with specific experience in litigation support services, and we knew they could be depended upon for a quick close and thorough follow through.”

“Critical to this transaction was Abacus’s ability to deliver on the entire amount required for the financing, evidence of our flexibility and lending capacity,” said Tim Clifford, President and CEO of Abacus. “This was our third transaction since Abacus’s formation in June. As in previous financings, what was important to WestView Capital and management was our ability to move quickly, to provide certainty of close, and to offer the right blend of industry experience and structuring flexibility – what we pride ourselves on and call the Total Partnership Approach.”

About LDiscovery, LLC 

Established in 2005 and based in McLean, VA, LDiscovery provides a full range of e-discovery services to law firms, corporations and government agencies. Comprised of attorneys, engineers and litigation support professionals, the firm is a leader in cost-effective end-to-end e-discovery management solutions – data collection and forensic investigations, early case assessment, ESI processing, and web based document review and production through trial support. For more information, please visit www.ldiscovery.com

About WestView Capital Partners

WestView Capital Partners, a Boston-based private equity firm focused exclusively on lower middle market companies, manages over $500 million in capital in two funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in a wide range of industries ranging from business and technology services, software, healthcare services, industrial/manufacturing, and media/publishing to consumer/retail. It targets companies with operating profits between $3 million and $20 million with investment sizes ranging from $5 million to $30 million. For more information, please visit www.wvcapital.com.

About Abacus Finance

Abacus Finance, formed in June 2011 as an affiliate of New York Private Bank & Trust and its subsidiary Emigrant Bank, is a lower middle-market focused, specialty finance company that provides cash flow-based senior and subordinated debt financing to private equity-sponsored companies nationwide. 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 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 at cliffordt@abacusfinance.com. Please visit  www.abacusfinance.com for more information.