ABACUS FINANCE CLOSES SENIOR FINANCING TO SUPPORT THOMPSON STREET CAPITAL PARTNERS’ LEVERAGED BUYOUT OF INFINITY BEHAVIORAL HEALTH SERVICES
February 23, 2015 - 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 supporting the leveraged buyout of Infinity Behavioral Health Services, Inc. (Infinity) by Thompson Street Capital Partners (Thompson Street).
Based in Fort Lauderdale, FL, Infinity is the leading niche provider of revenue cycle management services to more than 120 behavioral health facilities that provide substance abuse and mental health treatment across 14 states. Thompson Street is a St. Louis-based private equity firm that invests in service, distribution and manufacturing businesses.
“Abacus Finance’s healthcare industry knowledge – in particular about outsourced revenue cycle management services – and the team’s flexibility in transaction structure were critical to the success of this transaction,” said Elizabeth R. Borow, Managing Director of Thompson Street. "As they have done in the past, the Abacus team met an aggressive schedule for closing the investment on time as promised.”
“We know that when Thompson Street, a long-time trusted client that shares our lower-middle market focus, comes to us with a transaction, it will involve a high quality company," said Tim Clifford, President and CEO of Abacus Finance. “Although only four years old, Infinity – which is led by a great management team – has become a dominant player in its niche market. As in prior transactions with Liz and her partners, flexibility, speed and certainty of close were key objectives in keeping with of the emphasis we place on exceptional client service in our Total Partnership Approach™.”
Abacus team members involved in the transaction included Sean McKeever , Tim Wong, and Rafal Rydzewski. Legal counsel was provided to Abacus by Goulston & Storrs, LLP.
About Infinity Behavioral Health Services, Inc
Based in Fort Lauderdale, FL, Infinity is the leading niche provider of revenue cycle management services to more than 120 behavioral health facilities that provide substance abuse and mental health treatment across 14 states. Among the services Infinity provides are billing, claims management and submission, insurance verification and collection, payment posting, and utilization review with a goal of maximizing a patient’s insurance benefits to provide the optimal level of care and length of stay. Visit infinitybehavioral.com for more information.
About Thompson Street Capital, LP
Thompson Street is a St. Louis-based private equity firm that invests in service, distribution and manufacturing businesses via recapitalizations, management buyouts, corporate divestitures and family businesses in transition. Founded in 2000, Thompson Street manages more than $800 million in private equity capital and is currently investing its third fund. The firm, which has completed more than 100 acquisitions in over 35 industries, partners with management teams to increase value by accelerating growth, both organically and via complementary acquisitions. Visit tscp.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.