Abacus Finance Group, a provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies, served as senior secured credit facilities administrative agent and lead arranger for senior secured credit facilities to support the growth recapitalization of Mobility Market Intelligence (MMI) by WestView Capital Partners. Additionally, Abacus made an equity co-investment in MMI.
Headquartered in Salt Lake City, UT, MMI is a provider of SaaS-based data intelligence, analytics and sales enablement tools to the mortgage and real estate industry. WestView Capital Partners, a Boston-based growth equity firm, is focused on middle market growth companies and manages $2.7 billion in capital across five funds.
“We knew we could rely on Abacus despite the general state of today’s credit markets,” Kevin Twomey, principal of WestView, said. “They quickly understood the business model and market opportunity and provided us with a credit package designed to support both our investment and the company’s future growth.”
“This is the 15th platform we have closed with Westview since the founding of Abacus in 2011,” Tim Clifford, president and CEO of Abacus, said. “Consistent with all historical transactions, we were once again impressed by their thoughtful investment thesis.”
“We were extremely impressed by MMI’s management team and the company’s platform,” Sean McKeever, managing director and COO of Abacus, said. “We look forward to supporting the company’s strong growth trajectory in 2023 and beyond.”
“As in past transactions, our success was a function of our speed, flexibility, and detailed understanding of the company’s demand drivers – key aspects of our total partnership approach,” Austin Rendell, senior associate at Abacus, said.
Legal counsel was provided to Abacus by Goulston & Storrs.