Abacus Finance Group served as administrative agent and lead arranger for senior secured credit facilities to support the dividend recapitalization of MGC Diagnostics, an Altus Capital Partners portfolio company.
Headquartered in Saint Paul, MN, MGC Diagnostics develops, manufactures and markets non-invasive diagnostic systems for detecting, classifying and managing cardiorespiratory disease. Altus Capital Partners is a private equity firm that makes control investments in middle-market manufacturing businesses that employ technology and automation.
“Abacus Finance delivered again,” Greg Greenberg, founder and senior partner at Altus Capital Partners, said. “And we are thrilled to continue our partnership.”
“We are happy to continue to support MGC Diagnostics. The company has been performing extremely well and we are excited to continue working with them as our partners,” Tim Clifford, president and CEO of Abacus Finance Group, said. “As in other transactions, 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.”
“We’re excited by MGC’s future prospects and thrilled to support Altus Capital once again,” Aized Rabbani, managing director at Abacus Finance Group, said.
Abacus team members involved in the transaction included Timothy
Clifford and Rabbani were among the Abacus Finance Group team mended involved in this transaction. Goulston & Storrs provided legal counsel to Abacus Finance Group.