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 lead arranger for senior secured credit facilities to support the recapitalization of Accelevation by LFM Capital.
Based in Springboro, OH, Accelevation is a vertically integrated group of manufacturing companies serving the data center, electric vehicle, and robotic markets. LFM Capital is a private equity firm based in Nashville, TN that targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies.
“It was great to work again with the Abacus team, which knows the manufacturing space well,” Chris Lin, managing director of LFM Capital, said. “They provided flexible financing terms, and the due diligence process went smoothly enabling rapid execution in this difficult environment.”
“This was our third transaction with LFM Capital, and once again they demonstrated how well they understand manufacturing. Accelevation is a quality company and a leader in its field, one that fits well with our focus on the lower-middle market,” Tim Clifford, president and CEO of Abacus, said.
“As in other transactions, our success was a function of our speed, flexibility and certainty of close – key aspects of what we call our total partnership approach,” Eric Petersen, managing director of Abacus Finance, said.
Abacus team members involved in the transaction included Eric Petersen and Greg Scanlon. Legal counsel was provided to Abacus by Goulston & Storrs.
