Abacus Finance Group, a provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies, served as senior secured credit facilities administrative agent and sole lender for senior secured credit facilities to support the leveraged buyout of Bellwether Media by Lineage Capital. Additionally, Abacus Finance Group made an equity co-investment in Bellwether Media.
Minnetonka, MN-based Bellwether Media is a publisher of educational children’s books for students in Pre-K through Grade 7. Boston-based Lineage Capital invests exclusively in owner-managed and family-controlled businesses.
“As in past transactions, the Abacus team provided fast and efficient execution and was able to give us the certainty we needed to close in a short timeframe,” Mark Sullivan, managing partner at Lineage Capital, said.
“We are happy to support Bellwether Media, a company has been performing extremely well,” Tim Clifford, president and CEO of Abacus Finance, said. “As in other transactions, our success was a function of our speed, cash-flow flexibility and certainty of close – key aspects of what we call our total partnership approach.”
“Lineage is always excellent to work with and is a great partner for management teams,” Eric Petersen, managing director at Abacus, said.
Abacus team members involved in the transaction included Eric Petersen, Rafal Rydzewski and Greg Scanlon. Legal counsel was provided to Abacus by Goulston & Storrs.
