Abacus Finance Group served as administrative agent and lead arranger for senior secured credit facilities to support the leveraged buyout of GLD by H.I.G Growth Partners. Abacus also made an equity co-investment in GLD.
Founded in 2014 and headquartered in Miami, GLD is a digitally native, direct-to-consumer e-commerce jewelry, accessories and apparel brand. H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a 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,” Danielle Qi, managing director of H.I.G. Growth Partners, said. “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,” Tim Clifford, president and CEO of Abacus Finance Group, said.
“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,” Seth Friedman, managing director of Abacus Finance Group, said. “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
Friedman, Joseph Lee and Austin Rendell were among the Abacus team members involved in this transaction. Goulston & Storrs provided legal counsel to Abacus.
