Abacus Finance Group, a provider of cash flow-based, senior debt for sponsor-led investments in lower middle-market companies, served as senior secured credit facilities administrative agent and sole lender in senior debt financing to support Achieve Partners investment in Celilo Tech.
Celito Tech provides tech-enabled solutions delivered through proprietary platforms, accelerators, and standardized delivery models designed specifically for life sciences industry. Achieve Partners is building a better future for learning and earning by investing in cutting-edge technologies and novel business models to bolster skill development and secure the future of work for millions of Americans.
“Abacus was able to give us the certainty we were looking for in a financing partner and close the transaction in a tight timeline. We are once again excited to have such a trustworthy partner as we embark on the growth opportunities that lie ahead for Celito, said Aanand Radia, achieve managing director.
“As in the past, we were impressed with Achieve and its due diligence investment thesis of Celito. We are very excited to support them in yet another transaction,” said Tim Clifford, CEO and Founding Partner of Abacus Finance. “As in past transactions, our success was a function of our speed, structural flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach™.”
“The founders of Celito have built a great business, and we are excited to support them in this next chapter of growth. Achieve was great to work with once again, and we were happy to be able to provide them with the financing solution and timeline they were working for,” added Abacus Vice President Austin Rendell.
Abacus Analyst Matthew Campanella also helped lead the transaction. Legal counsel was provided by Goulston & Storrs.
