ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE ACQUISITION OF KINGSTON BRASS BY LONGUEVUE CAPITAL
New York, NY, April 2, 2024 - 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 Administrative Agent and Sole Lender for senior secured credit facilities to support the acquisition of Kingston Brass by LongueVue Capital.
Kingston Brass, established in 1998 and headquartered in Chino, CA, is a leading designer and distributor of kitchen and bathroom fixtures, bathtubs, and accessories. 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.
“We are extremely grateful to the Abacus team for their support of nine LVC platforms over the last six years,” commented LVC’s Managing Partner Ryan Nagim. “This was another smoothly executed transaction, which is their hallmark.”
“We are happy to support another strong transaction brought to us by the LongueVue team,” said Tim Clifford, President and CEO of Abacus Finance. “As in other transactions, our success was a function of our speed, structural flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach™.” “LongueVue is a strong partner and always great to work with,” added Abacus Managing Director Eric Petersen.
Abacus team members involved in the transaction included Eric Petersen, Greg Scanlon, and Matthew Campanella. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Kingston Brass
Founded in 1998 and headquartered in Chino, CA, Kingston Brass designs and distributes water fixtures, bathtubs, kitchen and bathroom accessories, and other plumbing products for both residential and commercial applications. Kingston operates in both D2C and B2B channels with an extensive product portfolio supported by an innovative product design team and leading supply chain infrastructure. The company has experienced rapid growth since its founding and currently employs approximately 150 full-time and part-time employees. For additional information, please visit kingstonbrass.com.
About LongueVue Capital
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. Having managed over $1 billion of committed capital spanning five funds, coupled with 200 years of combined operating and investing experience, LVC is the ideal partner for middle market companies at inflection points and seeking to maximize value for all stakeholders. LVC has made successful investments in a wide variety of industries including consumer, specialty packaging, healthcare, food and beverage, transportation and logistics, and precision manufacturing. For more information, please visit lvcpartners.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 22 Vanderbilt Avenue, 5th Floor, New York, NY 10017. All inquiries and new investment opportunities should be directed to Tim Clifford at 212-850-462 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.