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Abacus Finance Provides Senior Debt Financing to Support LBO of GLD by H.I.G. Growth Partners

October 12, 2021, 07:25 AM
Filed Under: e-Commerce

Abacus Finance Group served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the leveraged buyout of GLD, LLC by H.I.G Growth Partners. Abacus made an equity co-investment in GLD, LLC.

Founded in 2014 and headquartered in Miami, FL, GLD is a digitally native, direct-to-consumer ecommerce jewelry, accessories, and apparel brand in the large, high-growth urban/streetwear category. H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $45 billion of equity capital under management.

“Once again, we are very excited to partner with the Abacus team – this time to fund our growth investment in GLD,” said Danielle Qi, Managing Director of H.I.G. Growth Partners. “This is the second transaction we have completed in partnership with Abacus in the e-commerce space, an area in which we have significant direct experience and are able to leverage our deep vertical knowledge and resources.”  

“We were very pleased to once again partner with a firm for which we have come to have a great deal of respect, given its sector knowledge and investment prowess,” said Tim Clifford, President and CEO of Abacus. Added Abacus Managing Director Seth Friedman, “We are very happy to have had the opportunity to work again with the H.I.G. Growth team and support its investment in GLD. Their e-commerce sector knowledge and experience are extraordinary, which made our due diligence easy – an important factor since our sponsor relationships place a high value on our flexibility and speed, key aspects of our Total Partnership Approach™.”

Abacus team members involved in the transaction included Seth Friedman, Joseph Lee, and Austin Rendell. Legal counsel was provided to Abacus by Goulston & Storrs, PC.



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