ABACUS FINANCE PROVIDES SENIOR DEBT FACILITIES TO SUPPORT THE FINANCING OF AUTOMATED HANDLING SOLUTIONS BY MAY RIVER CAPITAL
New York, NY, October 3, 2022 - 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 Senior Secured Credit Facilities Administrative Agent and Sole Lender for senior secured credit facilities to support the financing of Automated Handling Solutions by May River Capital. Abacus made an equity co-investment in Automated Handling Solutions.
Automated Handling Solutions, formed through the successful combination of Cablevey Conveyors and Spiroflow Systems, is a global provider of specialty conveyor and material handling and automation equipment technologies that help processors manage their lines effectively and efficiently. May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market, industrial growth companies.
“This was a very smooth process from our perspective,” said May River Principal, Angela McCoy. “Given our prior experience working with Abacus, selecting them as our senior lender on this transaction was an easy choice,” she added.
“Abacus was pleased to utilize its Synthetic One-Stop™ product offering to assist May River with this transaction,” said Tim Clifford, President and CEO of Abacus. '“We pride ourselves on offering seamless execution and were pleased to partner once again with the May River Team.“ Added Abacus Managing Director Seth Friedman, “We were excited to have closed on our second platform with May River Capital. The firm’s experience in the vertical afforded us the ability for a quick and easy underwriting process.”
Abacus team members involved in the transaction included Seth Friedman and Austin Rendell. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Automated Handling Solutions
Automated Handling Solutions combines expertise in specialty conveyor and material handling and automation equipment technologies to help processors manage their lines effectively and efficiently. AHS’ products target applications in high value environments and can support both wet and dry media. Primary end markets served include food and beverage, pharmaceutical, nutraceutical, specialty chemical, and high value industrial. For more information, please visit automatedhandlingsolutions.com.
About May River Capital
May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market, industrial growth companies. May River Capital invests in high-quality industrial growth businesses, including precision manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution services. For more information, please visit mayrivercapital.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.