Abacus Finance Group served as administrative agent and sole lender for $18 million in senior secured credit facilities. The facilities will be used to support Altus Capital Partners’ take-back private/leveraged buyout of MGC Diagnostics.
Altus is a private equity firm that makes control investments in middle market manufacturing businesses. MGC is a publicly traded medical technology company dedicated to cardiorespiratory health solutions.
“This was our first transaction with the Abacus team,” said Gregory L. Greenberg, Altus founder and senior partner. “They lived up to their reputation. They were able to provide assurance of close early on, moved quickly, and showed real flexibility during negotiations.”
“This was the first time we have provided financing for taking a publicly-held company private on the Abacus platform,” said Tim Clifford, president and CEO of Abacus. “Given the relative complexity of the transaction, the execution went extremely well.”