Abacus Finance Group served as administrative agent and lead arranger for senior secured credit facilities to support the recapitalization of Next Net Media, a Clearview Capital portfolio company. Abacus also made an equity co-investment in Next Net Media.
Next Net Media is an online technology company based in St. Petersburg, FL. Clearview Capital is a private investment firm specializing in control and non-control investments of North American companies with operating profits of $4 million to $20 million.
“This is a new relationship for us and we had a great experience with Abacus,” Geoffrey Faux, principal at Clearview Capital, said. “They were flexible, responsive and worked efficiently to close the transaction on time.”
“We are thrilled to close our first transaction with Clearview Capital,” Tim Clifford, president and CEO of Abacus Finance Group, said. “We were impressed by the quality of their due diligence and are excited about adding Next Net Media to our portfolio as they move into their next stage of growth.”
“We worked as true partners with Clearview in this transaction, which made our underwriting and documentation easy,” Aized Rabbani, managing director at Abacus Finance Group, said. “We were able to move fast and close on time — important aspects of Making Life Easier through our Total Partnership Approach.”
Rabbani and Austin Rendell were among the team members from Abacus Finance Group involved with this transaction. Goulston & Storrs provided legal counsel to Abacus Finance Group on this transaction.