ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT GROWTH RECAPITALIZATION OF TRIPLE CROWN CONSULTING BY WESTVIEW CAPITAL PARTNERS
New York, NY, June 13, 2023 - Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Joint Lead Arranger for senior secured credit facilities to support the growth recapitalization of Triple Crown Consulting by WestView Capital Partners. Additionally, Abacus Finance Group made an equity co-investment in Triple Crown Consulting.
Since 2004, Triple Crown has been a leading provider of engineering talent for semiconductor hardware, embedded systems, and software to high-growth technology companies across end markets including consumer electronics, aerospace and defense, automotive, and manufacturing. WestView Capital Partners, a Boston-based growth equity firm, is focused on middle market growth companies and manages $2.7 billion in capital across five funds.
“As they have in the past, Abacus provided us with the assurance we were looking for to close the transaction in a timely manner. Their speed and flexibility are reasons we continue to grow the partnership between our two firms,” said WestView Capital Partners Principal Kevin Twomey.
“We were once again pleased to support a Westview transaction. Time and time again, Westview’s team impresses us with its industry knowledge and high-quality investment opportunities like Triple Crown Consulting,” said Tim Clifford, President and CEO of Abacus. “As in past transactions, our success was a function of our speed and flexibility – key aspects of our Total Partnership Approach™,” added Abacus Finance Managing Director and COO Sean McKeever. “We were able to provide WestView with confidence in securing their financing throughout the entire process.”
“We were very impressed with the business that the management team of Triple Crown Consulting has built over the past 19 years, and we are looking forward to supporting the tremendous growth that lies ahead,” commented Abacus Senior Associate Austin Rendell.
Abacus team members involved in the transaction included Sean McKeever and Austin Rendell. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Triple Crown Consulting
Headquartered in Austin, Texas with additional offices in Arizona, California, New Hampshire, Tennessee, and North Carolina, Triple Crown is a leading provider of hardware, embedded, software, and mechanical engineering talent. Its candidate-centric business model allows its team members to provide instant solutions to its customers’ most in-demand hiring needs. Triple Crown is highly focused on fostering relationships and providing the best experience for its customers and candidates.
Business and technology teams from Fortune 500 enterprises to emerging startups rely on Triple Crown’s ability to rapidly place developers, architects, coders, analysts, and designers who engineer digital transformation and growth. For more information, please visit tripleco.com.
About WestView Capital Partners
WestView Capital Partners, a Boston-based growth equity firm, is focused on middle market growth companies and manages $2.7 billion in capital across five funds. WestView partners with existing management teams to sponsor minority and majority recapitalization, growth capital, and consolidation transactions in several sectors including: business services, IT services, healthcare technology and outsourcing, software, and growth industrial. WestView targets investing $20 to $100 million in companies with revenue of at least $10 million and operating profits between $3 and $25 million. For more information, please visit wvcapital.com.
About Abacus Finance Group, LLC
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 $3 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.