Abacus Finance Group served as administrative agent and sole lender for $22.5 million in senior secured credit facilities to support Thompson Street Capital Partners’ leveraged buyout of Transnet YX. Abacus also made an equity co-investment in Transnet YX.
Founded in 2004 and headquartered in Memphis, TN, Transnet YX is an independent molecular diagnostic laboratory providing research animal genotyping services to the pharmaceutical and academic research communities.
Thompson Street is a St. Louis-based private equity firm focused on investing in founder-led, middle market businesses.
“As usual, it was a pleasure to work with the Abacus team,” said Elizabeth R. Borow, managing director of Thompson Street. “Abacus is a terrific partner, provides great service, and can always be relied upon to come through efficiently when we need a quick close.”
“Our longstanding partnership with Thompson, which shares our lower-middle market focus, is without question one of our top 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, and Transnet YX certainly fits that mold.”
Abacus Finance is a direct lending company, focused on providing cash flow senior financing to private equity-sponsored, lower-middle market companies throughout the U.S.
