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Abacus Finance Provides Senior Debt Financing to Support Dividend Recapitalization of MGC Diagnostics

September 27, 2021, 07:25 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 dividend recapitalization MGC Diagnostics Corporation, an Altus Capital Partners portfolio company.

Headquartered in Saint Paul, Minnesota, MGC Diagnostics Corporation, develops, manufactures, and markets non-invasive diagnostic systems for detecting, classifying. and managing cardiorespiratory disease. Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses that employ technology and automation.

“Abacus Finance delivered again,” said Greg Greenberg, Founder & Senior Partner Altus Capital Partners, “and we are thrilled to continue our partnership.”

“We are happy to continue to support MGC Diagnostics, the company has been performing extremely well and we are excited to continue working with them as our partners,” said Tim Clifford, President and CEO of Abacus Finance. “As in other transactions, our success was a function of our speed, cash-flow flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach™.”

“We’re excited by MGC’s future prospects and thrilled to support Altus Capital once again,” added Abacus Managing Director Aized Rabbani.

Abacus team members involved in the transaction included Timothy Clifford and Aized Rabbani. Legal counsel was provided to Abacus by Goulston & Storrs, PC.

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