Abacus Finance Group, a provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, served as administrative agent and lead arranger for senior secured credit facilities to support the leveraged buyout of Traco Packaging by LongueVue Capital.
Traco Packaging, based in Orem, UT, is a U.S. manufacturer and distributor of packaging equipment and shrink film products. Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm.
“Once again, it was great to work with the Abacus team,” Ryan Nagim, a partner at LongueVue Capital, said. “This is our fourth transaction with Abacus, and we continuously rely on them for their flexibility and seamless execution capabilities.”
“As Ryan noted, this is our fourth financing with LongueVue, a firm for which we have come to have a great deal of respect,” Tim Clifford, president and CEO of Abacus Finance Group, said.
“They are always enjoyable to partner with and know the sector well given their platform history and operating partner network,” Eric Petersen, director at Abacus Finance Group, said of LongueVue Capital. “Which makes our due diligence easy, an important factor because LVC puts a high value on our flexibility and speed — key aspects of our total partnership approach.”
Eric Petersen and Austin Rendell were team members from Abacus Finance Group involved in this transaction. Goulston & Storrs provided legal counsel to Abacus Finance Group.