Abacus Finance Group provided senior secured credit facilities to support the refinancing of GovSpend, a provider of government intelligence solutions, in a transaction sponsored by Thompson Street Capital Partners.
Abacus served as Administrative Agent and Sole Lender on the financing. The transaction marks the continuation of a long-standing relationship between Abacus and Thompson Street, a St. Louis–based middle-market private equity firm focused on investments in healthcare, software and technology services, and business services.
Founded in 2011, GovSpend offers data solutions to vendors and government agencies, including visibility into purchase orders, bids, RFPs, and contract activity.
“Our longstanding partnership with Thompson Street Capital Partners, which shares our lower middle-market focus, has become one of our best client relationships,” said Tim Clifford, CEO and Founding Partner of Abacus. Sean McKeever, President and Founding Partner, added, “What is important to them—beyond speed and certainty of close—is our flexibility in structuring and focus on exceptional client service through our Total Partnership Approach™.”
“Abacus is a terrific partner, provides great service, and can always be relied upon to come through efficiently when we need a quick close,” said Elizabeth R. Borow, Managing Director at Thompson Street. “They are easy to work with, and once again they were able to provide certainty of closure early on.”
The transaction was led for Abacus by Joseph Lee, Senior Vice President. Legal counsel to Abacus was provided by Goulston & Storrs, PC.
Abacus Finance Group specializes in providing cash flow-based, senior debt financing solutions to private equity–backed lower middle-market companies.
