ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE GROWTH CAPITAL INVESTMENT IN SELECT EXPRESS & LOGISTICS BY LONGUEVUE CAPITAL
New York, NY, February 20, 2019 - Abacus Finance Group, LLC, a leading provider of cash flow-based, classic senior debt financing for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, announced today that it served as Administrative Agent and Sole Lender for senior secured credit facilities to support the growth capital investment in Select Express & Logistics by LongueVue Capital (LVC).
Founded in 2001 and headquartered in New York, NY, Select Express & Logistics is a national provider of “last mile” delivery services to a variety of retailers, e-commerce players, and businesses under exclusive contracts. LVC 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 approximately $500 million under management across two funds.
“This is our fourth transaction with Abacus, and we continue to be impressed by their speed of execution and ease of documentation,” said John C. McNamara, II, LVC Co-Founder and Managing Partner. “We really like working with Eric and Rafal,” added LVC Partner Raymond J. Jeandron, III. “The Abacus team always goes the extra mile, and those two guys are real credit animals.”
“As John noted, this our fourth transaction together,” said Tim Clifford, President and CEO of Abacus Finance. “and once again they have brought us a quality company that is a leader in its field.” “As in other transactions,” added Abacus Senior Vice President Eric Petersen, “the client appreciated our speed, humor, flexibility, good looks and certainty of close – key aspects of what we call our Total Partnership Approach™.”
Abacus team members involved in the transaction included Eric Petersen and Rafal Rydzewski. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Select Express & Logistics
Founded in 2001 and headquartered in New York, NY, Select Express & Logistics is a national provider of “last mile” delivery services to a variety of retailers, e-commerce players, and businesses under exclusive contracts. The company utilizes a network of more than 800 independent contractor drivers and technicians who are capable of delivering and assembling high value sporting equipment, furniture, medical equipment, and other goods. The company’s last mile delivery service represents the final step in transporting goods from a distribution center or store to a customer’s home or business. Visit selectexp.com for more information.
About LongueVue Capital
LVC 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 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.