ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE REFINANCING OF ECA MEDICAL INSTRUMENTS BY LONGUEVUE CAPITAL
New York, NY, September 12, 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 refinancing of ECA Medical Instruments (ECA) by LongueVue Capital (LVC).
ECA, founded in 1979 and headquartered in Thousand Oaks, CA, is the industry leader in designing and manufacturing precision single-procedure torque-limiting instruments and single-use surgery ready procedural kits. Based in New Orleans, LVC is a private equity firm focused on making situation-driven, value-oriented investments in lower middle market companies with up to $150 million in annual revenue to support buy-outs, recapitalizations, acquisitions, and growth.
“Once again, Abacus proved to be a reliable and value-added partner,” said LVC Partner Ryan Nagim. “They were very flexible on structure, moved quickly, and we look forward to working with them in the future,” added LVC Co-Founding Partner Rick Rees.
“We are excited to have closed another transaction with our partners at LVC,” said Tim Clifford, President and CEO of Abacus. “We support LongueVue Capital’s vision for the Company, one of the reasons we were able to provide certainty of close early on,” commented Abacus Senior Vice President Eric Petersen. “As in other transactions, the critical success factors came down to our flexibility and a seamless due diligence process – both important aspects of what we call our Total Partnership Approach™.”
Abacus team members involved in the transaction included Eric Petersen & Rafal Rydzewski. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About ECA Medical Instruments
ECA Medical Instruments®, founded in 1979 and headquartered in Thousand Oaks, CA., is the industry leader in designing and manufacturing precision single-procedure torque-limiting instruments and single-use surgery ready procedural kits. Since its beginnings, the company has delivered over 35 million torque-limiting instruments and single-use surgery ready procedural kits to the world’s leading cardio, neuromodulation, orthopaedic and spine implant companies. Every 15 seconds of every day an ECA torque instrument or procedural kit is used to secure a medical implant—One Instrument, One Patient at a Time™. ECA, a LongueVue Capital company, is an ISO 13485, CE Mark certified and FDA registered firm. Visit ecamedical.com for more information.
About LongueVue Capital
LongueVue Capital is a private equity firm focused on making situation-driven, value-oriented investments in lower middle market companies (up to $150 million in annual revenue) to support buy-outs, recapitalizations, acquisitions, and growth. LVC currently has approximately $500 million under management across two funds. Since its formation in 2001, LVC has made successful investments in a wide variety of industries, including healthcare, business services, transportation and logistics, 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.