ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT SENTINEL CAPITAL PARTNERS’ INVESTMENT IN MARKETPLACE EVENTS
New York, NY, February 16, 2016 - Abacus Finance Group, LLC, a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced today that it served as Syndication Agent and Joint Lead Arranger senior secured credit facilities to support the investment by Sentinel Capital Partners, L.L.C. (Sentinel) in Marketplace Events, LLC (Marketplace Events).
Headquartered in Solon, Ohio, Marketplace Events is the largest organizer of consumer shows targeting the home improvement market. New York City-based Sentinel, one of the nation's leading lower-middle market private equity firms, invests in management buyouts, acquisitions of family businesses, corporate divestitures, industry consolidations, and going-private transactions in the United States and Canada.
“This was our first transaction with the Abacus team,” said Sentinel Partner Michael J. Fabian, "and they proved to be easy to work with. We were impressed by their efficient due diligence process coupled with the ability to give us a commitment quickly.”
“Because most of our equity sponsor relationships are longstanding, it is very exciting for us when we get the chance to work with a new partner,” said Tim Clifford, President and CEO of Abacus Finance. “Like us, they target quality lower-middle market firms, so the fit is a good one. And, as Michael said, they appreciated our flexibility, speed, and ability to provide certainty of close – key aspects of what we call our Total Partnership Approach™.”
Abacus team members involved in the transaction included Eric Petersen and Jonathan Choa. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Marketplace Events, LLC
Marketplace Events creates vibrant expositions connecting enthusiasts with experts, products, and services in dynamic face-to-face environments. Marketplace Events produces some of the most successful and longest-running shows in North America, including market-leading home shows in Montreal, Vancouver, Calgary, Minneapolis, Philadelphia, and Washington, D.C. – several of which have thrived in their markets for more than 75 years. For more information about Marketplace Events, visit www.marketplaceevents.com.
About Sentinel Capital Partners, L.L.C.
Sentinel Capital Partners specializes in buying and building businesses at the lower end of the middle market in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. For more information about Sentinel, visit www.sentinelpartners.com.
About Abacus Finance Group, LLC
Abacus Finance is a leading direct lending company, focused on providing cash flow senior financing to private equity-sponsored, lower-middle market companies across a wide array of industries. Since its inception in June 2011, it has closed over $2 billion in financings. Abacus targets debt financing opportunities of up to $75 million with a typical hold size ranging from $10 million to $40 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 located at 335 Madison Avenue, 23rd 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. Please 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, and our way of Making Life Easier over the lifecycle of each investment for our private equity sponsors.