ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE REFINANCING OF GOVSPEND BY THOMPSON STREET CAPITAL PARTNERS
New York, NY, May 12, 2025 - Abacus Finance Group, LLC – a leading provider of cash flow-based, senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Sole Lender to support the refinancing of GovSpend by Thompson Street Capital Partners.
Founded in 2011, GovSpend is a provider of government intelligence solutions, including purchase orders, bids & RFPs, contacts, and contracts, to government vendors and agencies. Based in St. Louis, Thompson Street Capital Partners is a middle-market private equity firm that invests in exceptional middle-market businesses in a range of industries.
“As usual, it was a pleasure to work with the Abacus team,” said Elizabeth R. Borow, Managing Director of Thompson Street. “Abacus is a terrific partner, provides great service, and can always be relied upon to come through efficiently when we need a quick close. We know them and their processes well. They are easy to work with, and once again they were able to provide certainty of closure early on.”
“Our longstanding partnership with Thompson Street Capital Partners, which shares our lower middle-market focus, has become one of our best client relationships,” said Tim Clifford, Abacus CEO and Founding Partner. “We know that when they come to us with a transaction, it will involve a high-quality company like GovSpend.” “What is important to them,” added Sean McKeever, Abacus President and Founding Partner, “in addition to our speed and certainty of close, is our flexibility in structuring transactions and the emphasis we place on exceptional client service – all part of our Total Partnership Approach™.”
Abacus Group Senior Vice President Joseph Lee also helped lead the transaction. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About GovSpend
GovSpend provides government procurement data and analytics to organizations buying and selling in the public sector. With transparency and accountability at the center of its focus, it strives to place data-driven insights in the hands of its federal, state, local, and education customers so they can win more government contracts. For more information, please visit govspend.com.
About Thompson Street Capital Partners
Based in St. Louis, Thompson Street Capital Partners is a middle-market private equity firm that invests in exceptional middle-market businesses in the Life Sciences & Healthcare, Software & Technology, and Business & Consumer Services and Products sectors. With a business focused on intentional partnerships, it works with founders and management teams to create value via accelerated growth. For over two decades, it has collaborated with founders, management teams, intermediaries, and its investors to create long-term value. For more information, please visit tscp.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 lower 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.