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Abacus Finance Supports LBO of BCC Software by Thompson Street Capital Partners

November 07, 2017, 07:11 AM
Filed Under: Technology

Abacus Finance Group, LLC (Abacus), a New York-based direct lending company, announced that it served as Administrative Agent and Lead Arranger for senior secured credit facilities to support the leveraged buyout of BCC Software LLC, (BCC) by Thompson Street Capital Partners (Thompson Street). Abacus also made an equity co-investment in BCC.

Founded in 1978 and headquartered in Rochester, NY, BCC is an industry-leading provider of data licensing solutions which enhance direct mail processing by improving the quality of mailing addresses and allowing customers to receive discounts offered by the USPS. Thompson Street is a St. Louis-based private equity firm focused on investing in founder-led, middle market businesses.
“Abacus is a terrific partner of ours, provides great service, and understands our needs and “rhythm” and can always be relied upon to come through efficiently when we need a quick close,” said Elizabeth R. Borow, Managing Director of Thompson Street. “Speed and certainty of close became of paramount importance, and Abacus, as usual, got the job done,” added Thompson Street Vice President Stefan Sigurdson.
“Our longstanding partnership with Thompson Street goes back to closing our first transaction with Liz Borow in 2013, and since then the relationship, as it deepened, has been extremely productive as they brought us one quality company after another,” said Tim Clifford, President and CEO of Abacus. “They appreciate the speed and efficiency of our due diligence process, value our knowledge of specific industry sectors, and, as Stefan said, look to us for a quick decision with respect to closure – all elements of the level of service provided in our Total Partnership Approach™.”

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

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