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 sole lender for senior secured credit facilities to support the leveraged buyout of Pinnacle Clinical Research by LongueVue Capital. Additionally, Abacus made an equity co-investment in Pinnacle Clinical Research.
Texas-based Pinnacle Clinical Research is a site network that conducts clinical hepatology and gastroenterology trials on behalf of pharmaceutical sponsors and contract research organizations. Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm that focuses on providing human capital, financial capital and a skill set built upon a successful 20-plus year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies.
“Once again we saw the same dependable ease of execution accompanied by the white glove service that keeps bringing us back,” Ryan Nagim, partner at LongueVue, said.
“This is our sixth transaction, which speaks volumes about the terrific relationship we have built with LongueVue,” Tim Clifford, president and CEO of Abacus, said.
“LongueVue is always great to work with. Our approach syncs perfectly with their needs,” Eric Petersen, managing director at Abacus, said.
Abacus team members involved in the transaction included Eric Petersen, Joseph Lee and Greg Scanlon. Legal counsel was provided to Abacus by Goulston & Storrs.
