Abacus Finance Group has had an active start to the second quarter, closing two transactions supporting private equity partners in lower middle-market investments.
The New York City–based Abacus Finance Group targets private debt financing opportunities of up to $60 million and finances companies with EBITDA between $3 million and $15 million.
In April, the firm provided senior debt financing and equity for the leveraged buyout of Marcy Laboratories by LFM Capital and separately backed a growth equity investment by WestView Capital in Hoist Global Tech Solutions.
Marcy Laboratories, founded in 1963 and based in the Chicagoland area, is a contract manufacturer specializing in perfumes, colognes, room sprays, and fragrance samplers for large fragrance brands and specialty retailers.
LFM’s acquisition of Marcy involved Abacus serving as Senior Secured Credit Facilities Administrative Agent and making an equity co-investment alongside LFM Capital. This was the fifth transaction that Abacus has closed with LFM.
“We are grateful to the Abacus team once again for their reliable support in this seamless transaction that included flexibility and rapid execution, the hallmarks of their service,” said Conner Harris, a managing director at LFM.
Nashville-headquartered LFM Capital invests in U.S.-based manufacturing and industrial services companies with at least $3 million in EBITDA and enterprise values between $15 million and $125 million. The firm is currently investing out of its $462 million fourth fund which closed in October 2024.
“As in past 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,” said Tim Clifford, the CEO of Abacus.
In the Hoist Global transaction, Abacus served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger and, as with the Marcy transaction, also made an equity co-investment.
Hoist is a systems integrator that provides consulting, implementation, and support services to companies operating in the aerospace and defense, energy utilities, construction, manufacturing, and telecommunication sectors.
Hoist specializes in IFS software systems, a Sweden-based provider of cloud-based software for enterprise resource planning (ERP), enterprise asset management (EAM), and field service management (FSM) used in the aerospace, manufacturing, energy, construction, and service sectors. Ottawa-headquartered Hoist was founded in 2019 and is one of the largest IFS-focused systems integrators.
Since Abacus’ founding in 2011, the firm has closed more than 20 investments for platforms sponsored by WestView.
“Once again, Abacus was able to give us the certainty we needed to close the transaction in a short timeframe and they were able to provide us with a financing package that will help Hoist grow in the years ahead,” said Matt Carroll, a managing partner at WestView.
WestView Capital makes majority and minority investments between $20 million and $100 million in lower middle-market growth companies with at least $10 million in revenue and operating profits between $3 million and $25 million. Sectors of interest include business services, software and IT services, consumer, healthcare technology and outsourcing, growth industrial, and consumer.
In January 2023, WestView closed its fifth fund, WestView Capital Partners V LP, which was oversubscribed and reached its $1 billion hard cap.
“WestView is without fail a strong partner and always great to work with,” said Sean McKeever, the president and a founding partner of Abacus.
Abacus Finance Group is an asset management firm specializing in private credit solutions to the lower middle market. Since the firm’s founding in 2011, it has closed over $3.5 billion in financings.
In December 2024, Abacus received a Small Business Investment Company (SBIC) license and closed its inaugural SBIC fund, Abacus Finance SBIC Fund I LP. Abacus 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.
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