ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE LEVERAGED BUYOUT OF QUEST SOLUTIONS BY WILSQUARE CAPITAL


New York, NY, April 24, 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 Sole Lender for senior secured credit facilities to support the leveraged buyout of Quest Solutions, LLC (Quest) by WILsquare Capital (WILsquare). Abacus also made an equity co-investment in Quest.

Founded in 1988 and headquartered in St. John, MI, Quest is a leading provider of roadside assistance and towing network management, outsourced insurance claims handling, and point of sale software for auto glass repair providers. WILsquare is a St. Louis-based private equity firm focused on acquiring and growing lower-middle market businesses in the Midwest and southern United States.

“Abacus lived up to its reputation as a firm absolutely focused on meeting sponsor firms’ needs,” said Bill Willhite, WILsquare Managing Partner and Co-Founder. “They went out of their way to be super flexible in transaction structuring and were accommodating to our requests at every step of the process.” “Equally important,” added Jack Randazzo, Vice President, “their due diligence process moved quickly, and they were able to provide certainty of close throughout the negotiations.”

“While this was our first transaction with WILsquare, we knew some of the principals from their prior work at other firms,” said Tim Clifford, President and CEO of Abacus. “So, it came as no surprise to us that we saw eye to eye with the WILsquare team on Quest’s potential.” “This transaction,” noted Sean McKeever, Abacus Managing Director and COO, “is yet another example of the results that can be achieved working with firms whose investment strategy dovetails well with our industry knowledge and focus on lower-middle market companies – key ingredients of what we call our Total Partnership Approach.”

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

About Quest Solutions, LLC

Founded in 1988 and headquartered in St. John, MI, Quest is a leading provider of roadside assistance and towing network management, outsourced insurance claims handling, and point of sale software for auto glass repair providers. Within the company’s core roadside assistance business, Quest maintains one of the largest networks of towing providers in the United States and provides its customers with a fully-outsourced roadside assistance program. Quest’s primary client base is insurance carriers which offer roadside assistance coverage to their end consumers to improve customer retention and most often brand Quest’s white label roadside programs as their own. Visit questsolutions.com for more information.

About WILsquare Capital

WILsquare is a St. Louis-based private equity firm focused on acquiring and growing lower-middle market businesses in the Midwest and southern United States. Its emphasis is on business services, niche manufacturing, distribution and technology companies. The firm is currently investing out of WILsquare Capital Partners Fund I, L.P. Visit wilsquare.com for more information.

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 nationwide. Since its inception in June 2011, it has closed over $1.7 billion in financings.  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 recently moved into its new headquarters at 335 Madison Ave., 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. 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.