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Abacus Finance Supports LBO of American Refrigeration Co. by Southfield Capital Advisors

November 14, 2017, 07:21 AM
Filed Under: Specialty Industries

Abacus Finance Group, LLC (Abacus), a New York-based direct lending company, announced that it served as Administrative Agent and Lead Arranger for $20.5 million in senior secured credit facilities to support the leveraged buyout of American Refrigerator Company (ARC) by Southfield Capital Advisors (Southfield).

Founded in 1996 and headquartered in Andover, MA, ARC is the largest independent industrial refrigeration service company in New England. Based in Greenwich, CT, Southfield Capital is a private equity firm that invests in high-growth, lower-middle market companies in the outsourced business services and specialty finance sectors.

“This was our second transaction with Abacus,” said Southfield Managing Partner Andy Levison, “and once again we were impressed with the flexibility of the financing structure that they proposed and the speed of their willingness to commit to the transaction.”  “Not only that,” added Southfield Partner Heb James, “they really rolled up their sleeves in the due diligence process which was handled quickly and efficiently.”

“As Andy noted, this was our second transaction with Southfield,” said Tim Clifford, President and CEO of Abacus, “and as before, they brought us a company of exceptional quality. We were well prepared for due diligence having taken a deep research dive into the industry – an important step in what we call our Total Partnership Approach™.”

Abacus team members involved in the transaction included Aized Rabbani and Joe Lee. Legal counsel was provided to Abacus by Goulston & Storrs, PC.


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