ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT LFM CAPITAL’S INVESTMENT IN VEKTEK


New York, NY, August 24, 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 Administrative Agent and Sole Lead Arranger for senior secured credit facilities to support the investment in Vektek, LLC by LFM Capital Partners, LP and Vektek’s management team.

Headquartered in St. Joseph, MO, Vektek is a manufacturer of hydraulic clamps and other products designed to secure parts during the metal cutting processes associated with the use of computer-controlled machining. LFM Capital, which is based in Nashville, TN, is a private equity firm that invests in private, lower-middle market North American manufacturing and industrial services companies with outstanding growth prospects.

“We selected the Abacus team because of its knowledge of, and experience with niche manufacturing companies,” said LFM Capital Managing Director Steve Cook. “We found them easy to work with and the due diligence and loan structuring processes were handled smoothly and efficiently.

“This was our first transaction with LFM Capital – they are experienced operators and were great to work with,” said Tim Clifford, President and CEO of Abacus. “Our knowledge of their space enabled us to move quickly and provide a timely close – an important aspect of what we call our Total Partnership Approach.”

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

About Vektek, Inc.

Established in 1974 and headquartered in St. Joseph, MO, Vektek is a manufacturer of hydraulic clamps and other products designed to secure parts during the metal cutting processes associated with the use of computer-controlled machining. Among the company’s products are a broad variety of work-holding devices, pallet fixture accessories, power supplies and auxiliary equipment. Visit vektek.com for more information. 

About LFM Capital, LLC

Founded in 2014 and headquartered in Nashville, TN, LFM Capital is a private equity firm that invests in private, lower-middle market North American manufacturing and industrial services companies with outstanding growth prospects. It is led by a team of experienced and successful Fortune 50 global operating executives and private equity professionals who bring decades of management, leadership, operating best practices, and a successful track record in lower-middle market investing. The firm partners with management teams to drive business value through a combination of lean manufacturing and operational best practices, world-class executive management recruiting, and targeted growth and expansion strategies. Visit lfmcapital.com for more information.

About Abacus Finance Group, LLC

Abacus Finance is a direct 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 $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, 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, deep industry knowledge and exceptional client service over the lifecycle of each investment.