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Abacus Finance Supports LongueVue Capital’s LBO of Zavation Medical Products

August 01, 2017, 07:05 AM
Filed Under: Medical

Abacus Finance Group, LLC (Abacus), a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced that it served as Administrative Agent and Sole Lead Arranger for $17.5 million in senior secured credit facilities to support the leveraged buyout of Zavation Medical Products, LLC (Zavation) by LongueVue Capital.  

Headquartered in Flowood, MS, Zavation is a designer and manufacturer of a portfolio of consumable, proprietary medical devices and instruments used in spinal surgery. New Orleans-based LongueVue Capital is a private equity firm focused on making situation-driven, value-oriented equity and debt investments in lower-middle market companies to support buyouts, recapitalizations, acquisitions and growth.

“I have nothing but praise – Abacus Finance lived up to its reputation by proving to be a very flexible and reliable partner,” said LongueVue Founding Partner Rick Rees. “Their turnaround was quick and the execution seamless.” “The Abacus team knows the medical device sector well,” added LongueVue Principal Ryan Nagim, “and was able to give us certainty of closure early in the process.”

“This was yet another new relationship for us, and we were impressed by the LongueVue team and the quality of the company they brought to us,” said Tim Clifford, President and CEO of Abacus. “Rick’s and Ryan’s colleagues found early on that we are easy to work with and that our due diligence process flows smoothly – key aspects of what we call our Total Partnership Approach™. We look forward to working with them in the future,” said Eric Petersen, Senior Vice President at Abacus.

Abacus team members involved in the transaction included Rafal Rydzewski. Legal counsel was provided to Abacus by Goulston & Storrs, PC.

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