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Abacus Finance Supports Refi of In-Place Machining Company by Platte River Equity

May 07, 2019, 09:00 AM
Filed Under: Machine Tools

Abacus Finance Group, LLC, a provider of cash flow-based, classic senior debt financing for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, announced  that it served as Administrative Agent and Sole Lender for $27.7 million in senior facilities in support of the refinancing of In-Place Machining Company by Platte River Equity.

In-Place Machining Company designs and develops specialized machine tool systems and provides precision field machining and measurement services to a broad range of industries. Based in Denver, Colorado, Platte River Equity is a private equity firm focused on equity investments from $20 million to $80 million in lower middle market operating companies with enterprise values generally between $20 million and $250 million.

“It’s always a pleasure working with Abacus – they are always very practical in their approach, allowing for great speed and a high level of confidence in their execution,” said Platte River Equity Managing Director Mark Brown.

“Platte River really knows the industrial services sector very well,” said Tim Clifford, President and CEO of Abacus, “and they never fail to deliver quality companies with strong management teams.” “Execution was easy,” added Abacus Director Eric Petersen. “We’ve worked with Platte River’s team repeatedly in the past, and each time we were able to pull the trigger quickly on a closing, an important factor in the value we add through our Total Partnership Approach™.

Abacus team members involved in the transaction included Eric Petersen and Joseph Lee. Legal counsel was provided to Abacus by Goulston & Storrs, PC.

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