Daily News: September 22, 2016

Abacus Supports PerTronix Recap


Abacus Finance Group served as administrative agent and lead arranger for a senior secured credit facility to support the recapitalization of PerTronix by Lineage Capital.

Abacus Financial is a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies. Abacus targets debt financing opportunities of up to $60 million with a typical hold size ranging from $10 million to $30 million.

“It was great to work again with the Lineage principals, some of whom we have known for 15 plus years,” said Tim Clifford, president and CEO of Abacus. “We were excited to be able to support a very highly attractive niche company with an impressive portfolio of brands in the auto enthusiast market. This transaction is a great example of how Lineage’s investment strategy matches up well with our flexibility and our focus on lower-middle market companies – key ingredients of what we call our Total Partnership Approach.”

San Dimas, CA-based PerTronix is a manufacturer and marketer of electronic ignition systems and exhaust products sold under a family of brand names. Boston-based Lineage is a private equity firm specializing in the recapitalization of family-controlled and owner-managed lower-middle market companies.

“This was our first transaction with Abacus, and we were more than pleased with the experience, something that came as no surprise because we have worked with the senior members of the Abacus team over many years,” said T. Brook Parker, a partner with Lineage. “They provided us with the speed and flexibility needed to close the transaction, both of which were critical in this deal. We look forward to working with them on future transactions.”