Abacus Finance Group served as administrative agent and lead arranger for senior secured credit facilities to support the recapitalization of New York-based software development company Rokolabs by WestView Capital Partners. Additionally, Abacus Finance Group made an equity co-investment in Rokolabs.
“Abacus was able to give us the certainty we needed to close Rokolabs in a short timeframe,” Greg Thomas, a partner at WestView Capital Partners, said. “And they were able to provide us with a financing package that will help the company grow in the years ahead.”
“Rokolabs is the fifth platform investment that we have closed with WestView this calendar year and the 19th since the inception of Abacus in 2011, a true testament to the strong partnership between our two firms,” Tim Clifford, president and CEO of Abacus Finance Group, said. “As in past transactions, we were able to provide speed and flexibility, key aspects of our total partnership approach.”
“We were very excited to support both WestView and the founders of the business. Rokolabs is in a strong position to continue its growth strategy while benefiting from strong industry tailwinds,” Sean McKeever, managing director and COO of Abacus Finance Group, said.
“We appreciated the extensive due diligence that WestView provided, which helped us quickly get up to speed on the opportunity and provide a seamless financing solution,” Austin Rendell, a senior associate at Abacus Finance Group, said. “Rokolabs is an exciting business that has tremendous growth potential.”
Goulston & Storrs provided legal counsel to Abacus Finance Group for this transaction.