ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT WESTVIEW CAPITAL PARTNERS’ GROWTH INVESTMENT IN ALPHA II
New York, NY, January 5, 2017 - 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 recapitalization and growth investment in Alpha II, LLC by WestView Capital Partners. Abacus also made an equity co-investment in Alpha II.
Tallahassee-based Alpha II’s is a provider of healthcare revenue cycle Software-as-a-Service solutions focused on claims editing, coding and billing accuracy, quality reporting and revenue analysis for healthcare professionals, clearinghouses and government entities. WestView Capital Partners, a private equity firm headquartered in Boston and focused exclusively on middle market companies, manages approximately $1 billion in capital.
“Once again, Abacus Finance proved to be a reliable partner that we can always count on,” said Matt Carroll, General Partner of WestView. “The Abacus team’s seamless execution, flexibility and industry knowledge are precisely the reasons why we have such a great working relationship with them. They never disappoint.”
“As always, we were very impressed with WestView’s industry knowledge and the quality of the company and management team that they brought to us,” said Tim Clifford, President and CEO of Abacus. “We are fortunate to have a wonderful working relationship with Matt Carroll, Jeff Clark, Kevin Twomey and the entire WestView ream, a longstanding client that has a tremendous track record as a sponsor and values our execution capabilities and flexibility – central elements of what we call our Total Partnership Approach™. We were delighted to be able to close our eighth transaction with them.”
Abacus team members involved in the transaction included Sean McKeever and Rafal Rydzewski, and legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Alpha II, LLC
Alpha II’s software and publications support accurate coding, compliance and claims editing for healthcare professionals, clearinghouses and government entities – both directly and through resellers. The Company’s toolsets, data content and rules engines plug and play with electronic medical record, practice management and hospital information systems to help their customers comply with the latest healthcare policies, standards and directives. Visit alphaii.com for more information.
About WestView Capital Partners
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1 billion in capital across three funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as healthcare technology and outsourcing, business services, software and IT services, consumer, and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $50 million. Visit wvcapital.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.