ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE LEVERAGED BUYOUT OF TRACO PACKAGING BY LONGUEVUE CAPITAL
New York, NY, July 19, 2021 - 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 – today announced that it served as Administrative Agent and Lead Arranger for senior secured credit facilities to support the leveraged buyout of Traco Packaging by LongueVue Capital.
Traco Packaging, based in Orem, Utah, is a leading U.S. manufacturer and distributor of packaging equipment and shrink film products. Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm focused on providing human capital, financial capital, and a skill set built upon a successful 20-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies.
“Once again, it was great to work with the Abacus team,” said LongueVue Partner Ryan Nagim. “This is our fourth transaction with Abacus, and we continuously rely on them for their flexibility and seamless execution capabilities.”
“As Ryan noted, this is our fourth financing with LongueVue, a firm for which we have come to have a great deal of respect,” said Tim Clifford, President and CEO of Abacus. “They are always enjoyable to partner with and know the sector well given their platform history and operating partner network,” added Abacus Director Eric Petersen, “which makes our due diligence easy, an important factor because LVC puts a high value on our flexibility and speed – key aspects of our Total Partnership Approach™.”
Abacus team members involved in the transaction included Eric Petersen and Austin Rendell. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Traco Packaging
Traco Packaging, based in Orem, Utah, is a leading U.S. manufacturer and distributor of packaging equipment and shrink film products. For the past 35 years Traco has provided its customers with packaging equipment and supplies of all varieties. Traco produces more than 1 million printed and clear shrink sleeves and tamper-evident bands every day. Please visit tracopackaging.com for more information.
About LongueVue Capital
Founded in 2001, LongueVue Capital (LVC) is a New Orleans-based private equity firm that focuses on providing human capital, financial capital, and a skill set built upon a successful 20-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies. Having managed over $500 million of capital spanning three funds coupled with 150 years of combined operating and investing experience, the LVC team is the ideal partner for middle market companies at inflection points and seeking to maximize value. LVC’s opportunistic investment strategy provides the flexibility to partner with attractive businesses across a variety of industries and situations, and they tailor transaction structures to meet the company and stakeholders’ objectives. Together with their entrepreneur and management team partners, LVC helps create superior value for their portfolio companies and investors. For more information, please visit www.lvcpartners.com.
About Abacus Finance Group, LLC
Celebrating its tenth anniversary in 2021, Abacus Finance is a leading direct lending company, focused on providing cash flow senior financing to private equity/family office-sponsored, lower-middle market companies across diverse industries. Since Abacus’s inception in 2011, it has closed over $2 billion in financings. The firm targets private debt financing opportunities of up to $50 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 cliffordt@abacusfinance.com. Please visit abacusfinance.com for more information.
The Total Partnership Approach™, 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.
Why should you Count on Us™? The answer lies in the deep partnerships we forge 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.