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Abacus Finance Supports LBO of SASE Co. by Blue Point Capital Partners

September 13, 2017, 08:00 AM
Filed Under: Building Supply

Abacus Finance Group, LLC (Abacus), a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced that it served as Administrative Agent and Lead Arranger for senior secured credit facilities to support the leveraged buyout of SASE Company, Inc. (SASE) by Blue Point Capital Partners (Blue Point).

Founded in 1959, with locations in Rockford, TN and Kent, WA, SASE is the largest direct-to-contractor provider of concrete polishing equipment and tooling supplies in North America. Blue Point Partners, with offices in Cleveland, Charlotte, Seattle and Shanghai, is a private equity firm managing over $825 million in committed capital.

“This was our first transaction with the Abacus team, and we were extremely impressed by them. Their knowledge of the business, rapport with the management team, and the certainty of closure that they were able to provide helped Abacus stand out,” said Mark Morris, a Partner with Blue Point. “Throughout the process the Abacus team was flexible, quick to respond and thoroughly professional,” added Charley Geiger, a Principal with Blue Point, “and we look forward to doing more deals with them.”

“As Mark noted, this is a new relationship and the partners of Blue Point brought us a terrific opportunity,” said Tim Clifford, President and CEO of Abacus. “SASE is a leader in its field with strong growth prospects, and we are very excited to have been able to partner with the Blue Point team on this investment. They were great to work with; their due diligence was thorough, and they valued our speed and responsiveness, key elements in what we call our Total Partnership Approach™.”

Abacus team members involved in the transaction included Aized Rabbani, Brian Green and Tim Wong. Legal counsel was provided to Abacus by Goulston & Storrs, PC.

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