ABACUS FINANCE PROVIDES $17.5 MILLION IN SENIOR DEBT FINANCING TO SUPPORT THE LEVERAGED BUYOUT OF ZAVATION MEDICAL PRODUCTS, LLC BY LONGUEVUE CAPITAL
New York, NY, July 31, 2017 - 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 Lead Arranger for $17.5 million in senior secured credit facilities to support the leveraged buyout of Zavation Medical Products, LLC (Zavation) by LongueVue Capital.
Headquartered in Flowood, MS, Zavation is a designer and manufacturer of a portfolio of consumable, proprietary medical devices and instruments used in spinal surgery. New Orleans-based LongueVue Capital is a private equity firm focused on making situation-driven, value-oriented equity and debt investments in lower-middle market companies to support buyouts, recapitalizations, acquisitions and growth.
“I have nothing but praise – Abacus Finance lived up to its reputation by proving to be a very flexible and reliable partner,” said LongueVue Founding Partner Rick Rees. “Their turnaround was quick and the execution seamless.” “The Abacus team knows the medical device sector well,” added LongueVue Principal Ryan Nagim, “and was able to give us certainty of closure early in the process.”
“This was yet another new relationship for us, and we were impressed by the LongueVue team and the quality of the company they brought to us,” said Tim Clifford, President and CEO of Abacus. “Rick’s and Ryan’s colleagues found early on that we are easy to work with and that our due diligence process flows smoothly – key aspects of what we call our Total Partnership Approach™. We look forward to working with them in the future,” said Eric Petersen, Senior Vice President at Abacus.”
Abacus team members involved in the transaction included Rafal Rydzewski. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Zavation Medical Products, LLC
Founded in 2012 and headquartered in Flowood, MS, Zavation is a designer and manufacturer of a portfolio of consumable, proprietary medical devices and instruments used in spinal surgery. The company manufacturers and engineers a portfolio of high quality spinal hardware covering key areas including thoracolumbar, cervical, and interbody fusion. Visit zavation.com for more information.
About LongueVue Capital
LongueVue Capital is a private equity firm focused on making situation-driven, value-oriented equity and debt investments in lower middle market companies (up to $150 million in annual revenue) to support buy-outs, recapitalizations, acquisitions and growth. LVC currently has $425 million under management across two funds. Since its formation in 2001, LVC has made successful investments in a wide variety of industries, including business services, transportation and logistics, healthcare, energy services, and niche manufacturing. LVC is based in New Orleans with additional offices in New York and Salt Lake City. Visit lvcpartners.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 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.