Abacus Finance Group served as administrative agent and lead arranger for a $23 million senior secured credit facility to support the recapitalization of Global LT, a Vicente Capital Partners portfolio company.

Troy, MI-based Global LT is a provider of outsourced language training, translation and mobility solutions that empower corporate employees to live and work successfully anywhere in the world.

Los Angeles-based Vicente Capital Partners is a private equity firm specializing in both non-control and control equity investments in growth businesses that have annual revenues between $5 million and $50 million.

Abacus Finance is a direct lending company, focused on providing cash flow senior financing to private equity-sponsored, lower-middle market companies nationwide. Formed in June 2011, Abacus targets debt financing opportunities of up to $60 million with a typical hold size ranging from $10 million to $30 million, and finances companies with EBITDA between $3 million and $15 million. Abacus is an affiliate of New York Private Bank & Trust, the holding company for Emigrant Bank.

“Once again, the Abacus Finance team proved to be a trusted partner on a transaction that required a tight turnaround,” said Jay Ferguson, managing partner at Vicente Capital Partners.

“We have a great relationship with the team at Abacus,” added Jason Beck, principal at Vicente Capital Partners. “With their knowledge of the company and the industry, due diligence was efficient and quick, and Abacus was able to deliver certainty of close early in the process.”

“Vicente Capital Partners is a great fit for us given their lower-middle market focus and expertise in software, technology-enabled business services, healthcare, and specialty manufacturing,” said Abacus Senior Vice President Timothy Wong.