ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE ACQUISITION OF SENPROCO AND GROOMER’S CHOICE BY HARBOUR GROUP
New York, NY, January 14, 2025 - Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led acquisitions of middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger to support the acquisition of Senproco and Groomer’s Choice by Harbour Group. Also, Abacus Finance made an equity co-investment in Senproco and Groomer’s Choice.
Senproco, along with its wholesale distribution division, Groomer’s Choice, is a leading manufacturer and one-stop-shop provider of pet grooming supplies. Based in St. Louis, Harbour Group is a privately owned operations-focused company whose businesses are engaged in manufacturing and distribution across diverse industries.
“The Abacus team was a great partner for us in this transaction,” said Harbour Group Chief Financial Officer Gary Beinke. “They were easy to work with, able to meet a tight timeline, and provided a seamless closing.”
“We are honored be entering into our first transaction with Harbour Group, a firm with a long and distinguished history,” said Tim Clifford, CEO and co-founder of Abacus.
“It is both a pleasure and a privilege to work with Harbour Group, a firm with a longstanding history of investing and supporting middle market businesses,” added Abacus Senior Vice President Rafal Rydzewski.
Greg Scanlon was also a member of the Abacus transaction team. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Senproco and Groomer’s Choice
Senproco, along with its wholesale distribution division, Groomer’s Choice, is a leading manufacturer and one-stop-shop provider of pet grooming supplies, including shampoos, conditioners, sprays, colognes, bathing equipment, and grooming tools, as well as apparel, accessories, toys and treats. Senproco’s coat care brands include Bark2Basics, Coat Handler, Green Groom, Petology, Bather Box, Crown Coat, and Bubble Bros. For more information, please visit groomerschoice.com.
About Harbour Group
Harbour Group is a privately owned operations-focused company based in St. Louis, Missouri. Harbour Group’s companies are engaged in manufacturing and distribution across diverse industries. Its products include specialty chemicals, outdoor living products, specialty fittings, supply chain condition monitoring solutions, remote monitoring solutions, control solutions, thermal management solutions, professional diagnostic and repair tools, and auxiliary plastic processing equipment. Since its founding in 1976, Harbour Group has acquired 230 companies in 50 different industries. For more information, please visit harbourgroup.com.
About Abacus Finance Group, LLC
Abacus Finance Group, LLC (including its subsidiaries and affiliates, together “Abacus”) is a leading asset management firm specializing in private credit solutions to the middle market. Since Abacus’s inception in 2011, it has closed over $3.5 billion in financings. The firm targets private debt financing opportunities of up to $60 million and finances companies with EBITDA between $3 million and $15 million. The firm is headquartered in New York City and maintains a second office in Portsmouth, New Hampshire. Abacus is an affiliate of New York Private Bank & Trust, which was founded in 1850.
Abacus Finance is located at 6 East 43rd Street, 12th 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.
Total Partnership Approach™ (TPA), a registered trademark of Abacus Finance, LLC, brings together cash-flow financing expertise, deep industry knowledge, a turnaround time of under 72 hours, and exceptional client service over the lifecycle of each investment – all in all, a comprehensive methodology that reflects our emphasis on growing relationships rather than just focusing on the number of transactions. We encourage sponsors to Count on Us™ because of the deep partnerships we forge by going well above and beyond what they traditionally have come to expect. We don’t believe in the phrase “good enough” – we push ourselves to create custom financing solutions specifically tailored for each transaction.