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Abacus Finance Supports Recap of Specialty Appliances by Five Points Capital

January 14, 2020, 09:00 AM
Filed Under: Industry News

Abacus Finance Group, LLC, a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, today announced that it served as Administrative Agent and Lead Arranger for $15 million in senior secured credit facilities to support the recapitalization of Specialty Appliances by Five Points Capital. Abacus also made an equity co-investment in Specialty Appliances.

Founded in 1981 and based in Cumming, GA, Specialty Appliances is a manufacturer and designer of custom orthodontic appliances. Five Points Capital is a Winston-Salem, NC-based private equity manager focused exclusively on supporting the capital needs of private, growth-oriented companies in the U.S. lower-middle market.

“This was our first transaction with Abacus, and we were impressed how smoothly, efficiently, and on time the whole process went,” said Five Points Capital Partner Marshall White. “The Abacus team was responsive, flexible, easy to work with, and knew the company,” added Five Points Vice President, Steele Windle.

“Although, as Marshall noted, it was our initial transaction with Five Points Capital, we have known members of the firm for many years. As I expected, they proved to be an excellent partner and easy to work with,” said Tim Clifford, President and CEO of Abacus. “Their level of due diligence was impressive and made our underwriting and documentation flow smoothly,” added Abacus Director Eric Petersen, “and were able to act quickly – an important aspect of being able to Count on Us ™ thanks to our Total Partnership Approach™.”

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

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