Abacus Finance Group, a provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, served as senior secured credit facilities administrative agent and lead arranger for senior secured credit facilities to support the leveraged recapitalization of ROX360 by Fort Point Capital. Additionally, Abacus made an equity co-investment in ROX360.
Founded in 2014, ROX360 is a tech-enabled marketing platform that provides technology-driven logistics /fulfillment services and customer retention services for vacation rental management customers. Fort Point Capital is a Boston-based private equity firm that invests in and supports promising, service-oriented companies at the lower end of the middle market.
“Abacus provided us with tremendous support early on in this transaction and fully delivered on their promise to provide seamless execution,” Christina Pai, partner at Fort Point Capital, said. “We are excited to be partnering with Abacus in support of ROX360’s continued growth.”
“We were pleased to have had the opportunity to complete our first transaction with the Fort Point Capital team,” Tim Clifford, president and CEO of Abacus, said. “Our ability to meet Fort Point’s desire for a smooth execution in a short timeframe is just one of the many attributes of our total partnership approach.”
“We were immediately enthusiastic about having the chance to work on this transaction with Fort Point Capital because we feel that we are aligned with their vision for growth in the future,” Seth Friedman, managing director at Abacus, said.
Abacus team members involved in the transaction included Seth Friedman and Austin Rendell. Legal counsel was provided to Abacus by Goulston & Storrs.
