ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE RECAPITALIZATION OF ROX360 BY FORT POINT CAPITAL
New York, NY, January 11, 2023 - 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 Lead Arranger for senior secured credit facilities to support the leveraged recapitalization of ROX360 by Fort Point Capital. Additionally, Abacus made an equity co-investment in ROX360.
Founded in 2014, ROX360 is a tech-enabled marketing platform that provides technology-driven logistics /fulfillment services and customer retention services for vacation rental management customers. Fort Point Capital is a Boston-based private equity firm that invests in and supports promising, service-oriented companies at the lower end of the middle market.
"Abacus provided us with tremendous support early on in this transaction and fully delivered on their promise to provide seamless execution,” said Christina Pai, Partner at Fort Point Capital. “We are excited to be partnering with Abacus in support of ROX360’s continued growth.”
“We were pleased to have had the opportunity to complete our first transaction with the Fort Point Capital team,” said Tim Clifford, President and CEO of Abacus. “Our ability to meet Fort Point’s desire for a smooth execution in a short timeframe is just one of the many attributes of our Total Partnership Approach™.”
“We were immediately enthusiastic about having the chance to work on this transaction with Fort Point Capital because we feel that we are aligned with their vision for growth in the future,” added Abacus Managing Director Seth Friedman.
Abacus team members involved in the transaction included Seth Friedman and Austin Rendell. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About ROX360
Founded in 2014 and headquartered in Eastpoint, FL, ROX360 is a tech-enabled marketing platform that provides technology-driven logistics/fulfillment services and customer retention services for vacation rental management customers. For more information, please visit rox360.com.
About Fort Point Capital
Fort Point Capital brings a management-led, growth-oriented approach to private equity investing, targeting fragmented sectors of the business services industry. Founded in Boston in 2011, Fort Point partners with founders and management teams to accelerate growth and performance. Fort Point provides resources to help companies expand teams and infrastructure, improve service offerings, access new markets, and support follow-on acquisitions. Fort Point fulfills its commitment to management, employees, and shareholders by employing a repeatable process to drive durable value, showcased in over 40 acquisitions since the firm’s inception. Fort Point Capital is currently investing from FPC Small Cap Fund II. For more information, please visit fortpointcapital.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.