ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE LEVERAGED BUYOUT OF SASE COMPANY, INC. BY BLUE POINT CAPITAL PARTNERS
New York, NY, September 12, 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 Lead Arranger for senior secured credit facilities to support the leveraged buyout of SASE Company, Inc. (SASE) by Blue Point Capital Partners (Blue Point).
Founded in 1959, with locations in Rockford, TN and Kent, WA, SASE is the largest direct-to-contractor provider of concrete polishing equipment and tooling supplies in North America. Blue Point Partners, with offices in Cleveland, Charlotte, Seattle and Shanghai, is a private equity firm managing over $825 million in committed capital.
“This was our first transaction with the Abacus team, and we were extremely impressed by them. Their knowledge of the business, rapport with the management team, and the certainty of closure that they were able to provide helped Abacus stand out,” said Mark Morris, a Partner with Blue Point. “Throughout the process the Abacus team was flexible, quick to respond and thoroughly professional,” added Charley Geiger, a Principal with Blue Point, “and we look forward to doing more deals with them.”
“As Mark noted, this is a new relationship and the partners of Blue Point brought us a terrific opportunity,” said Tim Clifford, President and CEO of Abacus. “SASE is a leader in its field with strong growth prospects, and we are very excited to have been able to partner with the Blue Point team on this investment. They were great to work with; their due diligence was thorough, and they valued our speed and responsiveness, key elements in what we call our Total Partnership Approach™.”
Abacus team members involved in the transaction included Aized Rabbani, Brian Green and Tim Wong. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About SASE Company, Inc.
Founded in 1959 and headquartered in Seattle, WA, SASE is the largest direct-to-contractor provider of concrete polishing equipment and tooling supplies in North America. Polished concrete is processed through a series of mechanically ground “polishing/grinding” steps utilizing professional equipment specifically designed for this type of work. The grinding tools – often referred to as diamond polishing pads – are progressive grits of industrial diamond contained in a bonded material such as metal/resin. Polished concrete is more resistant to high foot traffic than other floor coverings, requires less maintenance, has a longer service life, is resistant to moisture transmission issues, and does not require hazardous coatings or adhesives. Visit sasecompany.com for more information.
About Blue Point Capital Partners
Blue Point Capital Partners is a private equity firm managing over $825 million in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of a larger, global organization. Blue Point has a 27-year track record of partnering with companies in the lower-middle market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and China, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in manufacturing, distribution and service businesses generating between $20 million and $200 million in annual revenue. Visit bluepointcapital.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 firstname.lastname@example.org. 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.