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Abacus Finance Provides Senior Debt Financing to Support Growth Recapitalization of Kymanox

August 23, 2021, 07:53 AM
Filed Under: Medical

Abacus Finance Group served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the growth recapitalization of Kymanox Corporation by WestView Capital Partners. Abacus also made an equity co-investment in Kymanox.

Headquartered in Morrisville, North Carolina USA, Kymanox offers comprehensive engineering, development, and compliance support to clients who bring important gene and cell therapies, combination products, biopharmaceuticals, and medical devices to market. WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds.

“We’ve known Abacus for a long time and know that we can always depend on them for a smooth and successful transaction,” said Jonathan Hunnicutt, WestView General Partner. "As usual, they did not disappoint” added Westview Principal Jeff Clark, “and, as in past transactions, they took the time to fully understand the cash flow needs of the business and provided a flexible financing solution that supports future growth.”

“It was great to work once again with the WestView principals, some of whom we have known for more than a decade,” said Tim Clifford, President and CEO of Abacus. “They have consistently brought us attractive opportunities like Kymanox that align well with our investment strategy.”

“We were extremely impressed with Kymanox’s senior management team,” added Sean McKeever, Abacus Managing Director & COO, “and are excited to be their financing partner as they embark on the next stage of their growth in an attractive sector. As in other transactions, our success was a function of our speed, flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach™.”

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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