ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE RECAPITALIZATION OF LET’S PAVE, LLC BY SAW MILL CAPITAL
New York, NY, June 8, 2019 - Abacus Finance Group, LLC, a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, announced today that it served as Administrative Agent and Sole Lead Arranger for senior secured credit facilities to support the recapitalization of Let’s Pave, LLC by Saw Mill Capital.
Founded in 2015 and based in Oak Brook, IL, Let's Pave is a national provider of parking lot maintenance and repair services to multi-location property owners through a network of preferred, local paving partners. Based in Briarcliff Manor, NY, Saw Mill Capital is a private equity firm that acquires facility and industrial service, specialty distribution, and manufacturing businesses with enterprise values of $25 million to $200 million.
“From our perspective, this financing went very smoothly and efficiently,” said Tim Nelson, a Partner at Saw Mill Capital. “Everything was completed on schedule, we received early assurance of closure, and the Abacus team proved to be responsive, flexible, and easy to work with.”
“This was our first investment with Saw Mill Capital,” said Tim Clifford, President and CEO of Abacus, “and we were very impressed with their level of due diligence and unique in-house research capabilities. As Tim indicated, they appreciated our ability to move quickly – an important aspect of Making Life Easier™ through our Total Partnership Approach™.”
Abacus team members involved in the transaction included Aized Rabbani and Brian Green. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Let’s Pave, LLC
Based in Oak Brook, IL, Let’s Pave is a leading national provider of outsourced parking lot maintenance and repair services to multi-location commercial property owners. The Company provides best-in-class service and rapid response to its customers’ asphalt and concrete parking lot needs across the country through a proprietary network of preferred, local paving partners. Through its technical knowledge and expertise in procurement, project management and quality control, Let’s Pave drives significant long-term savings for property owners by proactively managing their parking lot maintenance programs. Please visit letspave.com for more information.
About Saw Mill Capital
Based in Briarcliff Manor, NY, Saw Mill Capital is a private equity firm that acquires facility and industrial service, specialty distribution and manufacturing businesses with enterprise values of $25 million to $200 million. Since 1997, Saw Mill Capital has been partnering with management teams to help successful businesses reach their full potential. For more information, visit sawmillcapital.com.
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 diverse 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 email@example.com. Please visit abacusfinance.com for more information.
The Total Partnership Approach™, which is a registered trademark of Abacus Finance, LLC, brings together cash-flow financing expertise, deep industry knowledge and exceptional client service over the lifecycle of each investment – all providing our sponsors with certainty of close and giving them peace of mind. Our team’s deep industry knowledge combined with an obsession for efficiency results in a turnaround time of under 72 hours. This swift response time is just one aspect of our Total Partnership Approach™ – a comprehensive methodology that reflects our emphasis on growing relationships rather than just focusing on the number of transactions.
How do we go about Making Life Easier™ – which is our slogan and also a registered trademark? The key lies in forging deep partnerships by going well above and beyond what sponsors traditionally have come to expect. We don’t believe in the phrase “good enough.” We push ourselves to create custom financing solutions tailored for each company – deals are started from the ground up, and we work side-by-side with the private equity sponsors we serve during each stage of the transaction life cycle.