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 lead arranger for $50 million in senior secured credit facilities to support the recapitalization of SV Labs, a portfolio company of San Francisco Equity Partners (SFEP).
SV Labs is a contract development and manufacturing organization (CDMO) specializing in beauty and personal care products. San Francisco Equity Partners is a private equity firm that invests in lower middle market businesses across the consumer sector value chain.
“This was our first transaction with the Abacus team,” David Mannix, partner at SFEP, said. “And they lived up to their reputation. They were able to provide assurance of moving quickly and showed real flexibility during negotiations.”
“Their due diligence process was streamlined and efficient, and the Abacus team was eager to support us in this transaction.” Chris Sargent principal of SFEP, said.
“As David noted, this was our first investment with San Francisco Equity Partners,” Tim Clifford, president and CEO of Abacus, said. “Their team valued our ability to move quickly – an important aspect of our total partnership approach.”
“We are pleased to have closed this transaction with San Francisco Equity Partners,” Seth Friedman, managing director at Abacus, said. “Their experience in the industry vertical coupled with their successes to date were what solidified our determination to support SFEP in this transaction.”
Abacus team members involved in the transaction included Seth Friedman and Austin Rendell. Legal counsel was provided to Abacus by Goulston & Storrs.
