ABACUS FINANCE PROVIDES SENIOR DEBT FINANCING TO SUPPORT THE RECAPITALIZATION OF CUSTOM WHEEL HOUSE, LLC BY THOMPSON STREET CAPITAL PARTNERS
New York, NY, January 21, 2020 - 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 Administrative Agent and Sole Lender for senior secured credit facilities to support the recapitalization of Custom Wheel House, LLC (CWH) by Thompson Street Capital Partners. Abacus also made an equity co-investment in CWH.
Founded in 2010 and headquartered in Santa Fe Springs, CA, CWH is a developer, manufacturer and distributor of aftermarket wheels, tires and accessories for car enthusiasts. Thompson Street Capital Partners is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses.
“Once again, Abacus performed as expected – the team knew the industry well, was responsive, flexible and easy to work with, and the result was a smooth transaction that closed on time,” said Thompson Street Managing Director Liz Borow.
“Our longstanding partnership with Thompson Street, which shares our middle market focus, is without question one of our top client relationships,” said Tim Clifford, President and CEO of Abacus. “We know that when they come to us with a transaction, it will involve a high-quality company, and Custom Wheel House certainly fits that mold. Why Thompson Street can Count on Us™ is the importance they attach to speed and the certainty of close – aspects of our Total Partnership Approach™.”
Abacus team members involved in the transaction included Rafal Rydzewski and Jacob Wise. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Custom Wheel House, LLC
Founded in 2010 and headquartered in Santa Fe Springs, CA, CWH is a developer, manufacturer and distributor of aftermarket wheels, tires and accessories for car enthusiasts. The company’s products are sold through an extensive network of auto parts distributors and retailers. CWH’s portfolio of products are engineered to fit most makes and models across production years. CWH manufactures wheels, primarily sold under the Method Wheel House brand for the growing truck and SUV vehicle market, Tensor and GMZ tires, and accessories, apparel and lifestyle products under the Dusty Times brand name. Please visit customwheelhouse.com for more information.
About Thompson Street Capital Partners
Thompson Street Capital Partners is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses. It has acquired more than 100 companies in the Healthcare & Life Science Services, Software & Technology Services and Business Services & Engineered Products sectors and has managed more than $2.6 billion since being founded in 2000. TSCP partners with management teams to increase value by accelerating growth, both organically and via complementary acquisitions. Please visit tscp.com for more information.
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 June 2011, it has closed over $2 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.