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Abacus Finance Provides $26.3MM in Debt Financing to Support Mountaingate Capital’s LBO of BioDerm

January 19, 2021, 08:00 AM

In the first in transaction of its ten-year anniversary, Abacus Finance Group announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for $26.3 million in senior secured credit facilities to support the leveraged buyout of BioDerm, Inc. by Mountaingate Capital. Abacus – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – also made an equity co-investment in BioDerm.
Headquartered in Largo, Florida, BioDerm is one of the nation’s leading manufacturers of branded proprietary products for urinary management. Mountaingate Capital is a private equity firm based in Denver that specializes in building and empowering companies with strong growth potential and engaged leadership teams.
“Abacus moved quickly to close the transaction on an accelerated timeline,” said Mountaingate Managing Director Stew Fisher. “The team was responsive and flexible, and the end result was a smooth transaction that was rapidly closed.”   
“This was our first transaction with Mountaingate, and they were great to work with. They have a substantial history in healthcare and know the space well,” said Tim Clifford, President and CEO of Abacus. “They were very efficient to deal with and very relationship oriented,” added Abacus Director Eric Petersen. “All in all, I think they feel they can Count on Us™ given the importance they attach to speed and the certainty of close – two key aspects of 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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