ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE DIVIDEND RECAPITALIZATION OF MGC DIAGNOSTICS CORPORATION, AN ALTUS CAPITAL PARTNERS PORTFOLIO COMPANY
New York, NY, September 27, 2021 - Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the dividend recapitalization MGC Diagnostics Corporation, an Altus Capital Partners portfolio company.
Headquartered in Saint Paul, Minnesota, MGC Diagnostics Corporation, develops, manufactures, and markets non-invasive diagnostic systems for detecting, classifying. and managing cardiorespiratory disease. Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses that employ technology and automation.
“Abacus Finance delivered again,” said Greg Greenberg, Founder & Senior Partner Altus Capital Partners, “and we are thrilled to continue our partnership.”
“We are happy to continue to support MGC Diagnostics, the company has been performing extremely well and we are excited to continue working with them as our partners,” said Tim Clifford, President and CEO of Abacus Finance. “As in other transactions, our success was a function of our speed, cash-flow flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach™.”
“We’re excited by MGC’s future prospects and thrilled to support Altus Capital once again,” added Abacus Managing Director Aized Rabbani.
Abacus team members involved in the transaction included Timothy Clifford and Aized Rabbani. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About MGC Diagnostics
Founded in 1977 and headquartered in Saint Paul, Minnesota, MGC Diagnostics Corporation, develops, manufactures, and markets non-invasive diagnostic systems for detecting, classifying, and managing cardiorespiratory disease. This singular focus guides its strategy and defines its commitment to customers, employees. and the cardiorespiratory industry. Its experience provides unmatched insight for solving today’s challenges and anticipating tomorrow’s opportunities. Please visit mgcdiagnostics.com for more information.
About Altus Capital Partners
Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses that employ technology and automation. We believe that our exclusive focus on manufacturing provides us with a unique understanding of the opportunities and challenges faced by companies in the sector. We utilize a patient, thoughtful investment approach and partner with the management teams of our operating companies to achieve growth. Please visit altuscapitalpartners.com for more information.
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.