ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE LEVERAGED BUYOUT OF FECON BY LFM CAPITAL
New York, NY, November 7, 2018 - Abacus Finance Group, LLC (Abacus), 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 Administrative Agent and Lead Arranger for senior secured credit facilities to support the leveraged buyout of Fecon, Inc. by LFM Capital.
Based in Lebanon, Ohio and founded in 1992, Fecon is the leading manufacturer of heavy-duty forestry mulching equipment and related forestry accessories in North America. LFM Capital is a Nashville-based private equity firm focused on lower-middle market U.S. manufacturing and industrial services companies with outstanding growth prospects.
“It was good to work again with the Abacus team, which knows the manufacturing space well,” said LFM Capital Executive Managing Director Steve Cook. “The due diligence process went smoothly and communications – including early assurance of closure – were clear from the beginning.”
“This was our second transaction with LFM Capital, and once again they demonstrated how well they understand manufacturing. Fecon is a quality company and a leader in its field, one that fits perfectly with our focus on the lower-middle market,” said Tim Clifford, President and CEO of Abacus. “As in other transactions, our success was a function of our speed, flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach™,” added Eric Petersen, Senior Vice President of Abacus Finance.
Abacus team members involved in the transaction included Eric Petersen and Joseph Lee. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Fecon, Inc.
Based in Lebanon, Ohio and founded in 1992, Fecon is the leading manufacturer of heavy-duty forestry mulching equipment and related forestry accessories in North America. The Company serves dealership customers in a wide range of end markets including right of way vegetation management, erosion control, general land clearing, and habitat restoration. Visit fecon.com for more information.
About LFM Capital
LFM Capital is a Nashville-based private equity firm focused on lower middle market U.S. manufacturing and industrial services companies with outstanding growth prospects. LFM targets lead or control investments in market leading companies with at least $3 million of EBITDA and enterprise values ranging from $15 to $125 million. The LFM team is led by experienced and successful Fortune 50 global executive managers and private equity professionals who bring decades of management leadership, operating best practices, exceptional professional recruiting networks, and a successful track record in lower middle market investing. LFM partners with management teams to drive business value through a combination of manufacturing and operations excellence, world-class executive management, and targeted growth and expansion strategies. For additional information, please visit lfmcapital.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.