Abacus Finance Group, a provider of cash flow-based senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, served as administrative agent and co-lead arranger for senior secured credit facilities to support the refinancing of Receivable Solutions by WestView Capital Partners.
“As always, Abacus made the refinancing process seamless and quick, which allowed the management team to continue executing successfully on our plan,” Matt Carroll, general partner at WestView Capital Partners, said.
“We are very pleased to be partnering with firms that are among the top investors and companies in the revenue cycle management space. Both are true standout professionals in their areas of expertise,” Tim Clifford, president and CEO of Abacus Finance Group, said.
“RSI continues to be a strong performer, growing at rates significantly ahead of its peers,” Sean McKeever, managing director and COO at Abacus Finance Group, said. “We continue to be a supportive partner and are excited by RSI’s future prospects, which are fully supported by our total partnership approach.”
McKeever and Joseph Lee were among the Abacus team members involved in this transaction. Goulston & Storrs provided legal counsel to Abacus.
Headquartered in Columbia, SC, Receivable Solutions has been providing accounts receivable management services to the healthcare industry for more than 20 years.
WestView Capital Partners, a Boston-based private equity firm, manages approximately $1.7 billion in capital across four funds.
