New
Financings
Abacus Ramps Up Deal Activity with Two New Closings
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…
Through Western Vet, TPG Twin Brook Builds Relationship with Tyree & D’Angelo
TPG Twin Brook has increased its credit facilities to Western Veterinary Partners, a Tyree & D’Angelo Partners (TDP) portfolio company since June 2019. Western Veterinary Partners (WVP) provides non-clinical support services to a network of general veterinary practitioners specializing in companion animal care, offering medical, dental, and surgical care for pets. TDP formed Denver-headquartered WVP in June 2019 to invest in and manage veterinary clinics. Today, WVP is led by CEO Carollee Brinkman and operates…
Trinity Launches Sponsor Finance Vertical
Publicly traded Trinity Capital has formed a new sponsor finance vertical and added three new professionals to its team to staff the new strategy. Trinity Capital (NASDAQ: TRIN) is a provider of a range of financial services to growth-stage companies that have institutional equity investors. The firm’s objectives, across all its investment strategies, are to generate current income and capital appreciation through term loans and equipment financings, and equity-related investments. Joining Trinity to launch the…
LongueVue Acquires Kingston Brass with Abacus Backing
LongueVue Capital (LVC) has acquired Kingston Brass, a designer and distributor of kitchen and bathroom fixtures, bathtubs, and accessories. Kingston designs and distributes water fixtures, bathtubs, kitchen and bathroom accessories, and other plumbing products to both residential and commercial customers through both direct-to-consumer and business-to-business channels. The company’s products – sourced from long term Taiwan-based suppliers – range from kitchen and bath faucets and sinks to matching plumbing trim and includes air gaps, filtration faucets,…
Lineage Acquires Bellwether Media with Abacus Backing
Abacus Finance Group was the Senior Secured Credit Facilities Administrative Agent and Sole Lender for senior secured credit facilities used to back the acquisition of Bellwether Media by Lineage Capital. In addition to its credit support, Abacus also made an equity co-investment in Bellwether. Bellwether is a publisher of educational children’s books for students in pre-K through seventh grade under the Bellwether, Jump!, Bearport, and Kaleidoscope brands. The company has a portfolio of more than…
Lincoln Road’s Newest Platform Corners Houston Landscaping Market
Lincoln Road has acquired Silversand Services and SLI Landscape, providers of commercial landscaping services in the Houston metropolitan area. Silversand’s and SLI’s services include landscaping, irrigation management, tree care, interior plant care and holiday decoration services. Silversand was founded in 1983 and SLI was founded in 2003. In March 2023, Lincoln Road acquired Zodega Landscaping, a Houston-headquartered provider of commercial landscape maintenance, lawn care, irrigation system management, and ancillary services to property management companies, industrial…
O2 Sponsor Finance Backs Soundcore’s Paving Platform
O2 Sponsor Finance, a division of Old Second National Bank, provided the senior bank financing to back the acquisitions by Soundcore Capital Partners of ACI Asphalt & Concrete (ACI) and ACS Asphalt Concrete Solutions (ACS). Soundcore specializes in North America-based buy-and-build investments in the lower middle market. Target companies typically have revenues up to $150 million and are active in business and outsourced services, industrial services, specialty manufacturing, and value-added distribution sectors. New York City-headquartered…
Abacus Backs Another LongueVue Platform
Abacus Finance Group has provided senior secured debt to support the acquisition of Summit Clinical Research by LongueVue Capital. Abacus also made an equity co-investment. Summit Clinical Research (SCR) is an integrated research organization that specializes in Hepatology, a branch of medicine concerned with the study, prevention, diagnosis, and management of diseases that affect the liver, gallbladder, and pancreas. Within Hepatology, SCR specializes in non-alcoholic steatohepatitis (NASH), liver inflammation and damage caused by a buildup…
O2 Backs West Edge’s Buy of Dakotaland Autoglass
O2 Sponsor Finance, a division of Old Second National Bank, has provided senior secured credit facilities to back the buy of Dakotaland Autoglass by West Edge Partners. Dakotaland Autoglass (DAG) is a distributor of aftermarket automotive replacement glass, and paint & body equipment to autobody shops and glass installation businesses. The company’s inventory includes over 50,000 auto glass parts. In addition to its distribution activities, DAG also provides a range of services including windshield replacement,…
Northstar Provides Mezz and Equity to May River’s Material Handling Platform
Northstar Capital has made an investment in Automated Handling Solutions, a portfolio company of May River Capital. Northstar provided mezzanine debt and made an equity co-investment. Northstar invests from $5 million to $30 million of subordinated debt and/or up to $15 million of equity as a co-investment in sponsored transactions of North American-based companies with EBITDA of at least $3 million. The firm’s sectors of interest include healthcare, industrials, consumer, business services, food and agriculture,…
Abacus Backs New May River Platform
Abacus Finance was the provider of senior debt facilities to support the formation of Automated Handling Solutions (AHS) by May River Capital. In providing the financing, Abacus acted as the sole lender and the senior secured credit facilities administrative agent. Abacus also made an equity co-investment to back the formation of AHS by May River. Automated Handling Solutions was formed by May River in April 2022 through the combination of Cablevey Conveyors, an Iowa-based manufacturer…
