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Abacus Finance Provides Senior Debt Financing to Support Refinance of LifeSpan Biosciences

April 12, 2021, 07:31 AM
Filed Under: Biotechnology

Abacus Finance Group served as Administrative Agent and Sole Lead Arranger for senior secured credit facilities to support the refinance of LifeSpan Biosciences, Inc. (LSBio) by Thompson Street Capital Partners. Abacus also made an equity co-investment in LSBio.

Founded in 1995 and headquartered in Seattle, LSBio is a developer, manufacturer, and distributor of 75,000+ antibody SKUs and related reagents primarily for the academic and pharmaceutical research markets. Thompson Street Capital Partners is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses. Having acquired more than 150 companies, it has managed more than $2.6 billion since being founded in 2000.

“Once again, it was a pleasure to work with the Abacus team,” said Elizabeth R. Borow, Managing Director of Thompson Street. “We were facing a critical deadline to place this financing, and once again Abacus delivered. I continue to be impressed by their speed of execution and ease of documentation. As always, they were responsive, flexible, easy to work with, and able to provide certainty of closure early. The result was a smooth transaction completed on time.”

“Our longstanding partnership with Thompson, which shares our lower middle-market focus, has become one of our best client relationships,” said Tim Clifford, President and CEO of Abacus. “We know that when they come to us with a transaction, it will involve a high-quality company like LSBio.” “What is important to them – in addition to speed and certainty of close – is our flexibility in structuring transactions and the emphasis we place on exceptional client service – all part of our Total Partnership Approach™, added Sean McKeever, Abacus Managing Director and COO.”

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

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