Abacus Finance Group served as administrative agent and lead arranger for senior secured credit facilities to support the growth recapitalization of Kymanox Corporation by WestView Capital Partners. Abacus also made an equity co-investment in Kymanox.
Headquartered in Morrisville, NC, Kymanox offers engineering, development and compliance support to clients who bring gene and cell therapies, combination products, biopharmaceuticals and medical devices to market. WestView Capital Partners, a Boston-based private equity firm, manages approximately $1.7 billion in capital across four funds.
“We’ve known Abacus for a long time and know that we can always depend on them for a smooth and successful transaction,” Jonathan Hunnicutt, general partner at WestView Capital Partners, said.
“As usual, they did not disappoint” Jeff Clark, principal of Westview Capital Partners, said. “And, as in past transactions, they took the time to fully understand the cash flow needs of the business and provided a flexible financing solution that supports future growth.”
“It was great to work once again with the WestView principals, some of whom we have known for more than a decade,” Tim Clifford, president and CEO of Abacus Finance Group, said. “They have consistently brought us attractive opportunities like Kymanox that align well with our investment strategy.”
“We were extremely impressed with Kymanox’s senior management team and are excited to be their financing partner as they embark on the next stage of their growth in an attractive sector,” Sean McKeever, managing director and COO of Abacus Finance Group, 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.”
McKeever and Joseph Lee were among the Abacus Finance Group team members involved in this transaction. Goulston & Storrs provided legal counsel to Abacus Finance Group.
