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 sole lender for senior secured credit facilities to support the leveraged buyout of Summit Clinical Research by LongueVue Capital. Additionally, Abacus made an equity co-investment in Summit Clinical Research._x000D_
_x000D_
Summit Clinical Research, which was founded in 2018 and is headquartered in San Antonio, TX, is an integrated research organization specializing in the field of hepatology – the study of medicine that deals with diseases of the liver – with a focus on Non-Alcoholic Steatohepatitis (NASH). Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm that focuses on providing human capital, financial capital and a skill set built upon a track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies._x000D_
_x000D_
“Once again, great work by the Abacus team,” Ryan Nagim, partner at LongueVue, said. “They know the sector well, and the result was a smoothly executed transaction, which is their hallmark.”_x000D_
_x000D_
“This is our seventh transaction with LongueVue Capital with whom we have built a terrific relationship over the years,” Tim Clifford, president and CEO of Abacus, said. “As in earlier transactions for them, 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.”_x000D_
_x000D_
Eric Petersen, managing director at Abacus, said. “They have consistently brought us attractive opportunities like Summit that align well with our investment strategy.”_x000D_
_x000D_
Abacus team members involved in the transaction included Petersen, Joseph Lee and Greg Scanlon. Legal counsel was provided to Abacus by Goulston & Storrs.
Forward for Specialty Finance
