Abacus Finance Group served as administrative agent and sole lead arranger for senior secured credit facilities to support the refinancing of LifeSpan Biosciences by Thompson Street Capital Partners. Abacus also made an equity co-investment in LifeSpan BioSciences.
Founded in 1995 and headquartered in Seattle, LifeSpan BioSciences is a developer, manufacturer and distributor of more than 75,000 antibody SKUs and related reagents primarily for the academic and pharmaceutical research markets.
Thompson Street Capital Partners is a St. Louis-based private equity firm. Having acquired more than 150 companies, it has managed more than $2.6 billion since being founded in 2000.
“Once again, it was a pleasure to work with the Abacus team,” Elizabeth Borow, managing director of Thompson Street Capital Partners, said. “We were facing a critical deadline to place this financing and once again Abacus delivered. I continue to be impressed by their speed of execution and ease of documentation. As always, they were responsive, flexible, easy to work with and able to provide certainty of closure early. The result was a smooth transaction completed on time.”
“Our longstanding partnership with Thompson, which shares our lower middle-market focus, has become one of our best client relationships,” Tim Clifford, president and CEO of Abacus Finance Group, said. “We know that when they come to us with a transaction, it will involve a high-quality company like LifeSpan BioSciences.”
“What is important to them — in addition to speed and certainty of close — is our flexibility in structuring transactions and the emphasis we place on exceptional client service — all part of our total partnership approach,” Sean McKeever, managing director and COO of Abacus Finance Group, said.
McKeever and Joseph Lee were among the Abacus team members who were involved in the transaction. Goulston & Storrs provided legal counsel to Abacus.