Daily News: January 31, 2017

Abacus Supports VITAC Acquisition of Caption Colorado


Abacus Finance served as administrative agent and sole lead arranger for senior secured credit facilities to support the add-on acquisition of Caption Colorado by VITAC, a portfolio company of Gores Small Capitalization Partners.

Headquartered in Greenwood Village, CO, Caption Colorado is a provider of closed captioning and related services in the U.S. Founded in 1986 and based in Canonsburg, PA, VITAC is the largest U.S. provider of captioning services to the live and prerecorded television programming and entertainment industries.

The Gores Group is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm’s operating experience and flexible capital base.

“We were delighted to partner with Abacus again as we continue to grow our investment in VITAC,” said Gores Principal Anthony Chirikos. “Once again Abacus’ speed, certainty and industry knowledge showed itself in an efficient execution.”

“This was our second transaction with a firm that has an impressive record of carve-out and integration transactions. They are easy to work with, and they place a high value on our flexibility and speed – key aspects of what we call our Total Partnership Approach,” said Tim Clifford, president and CEO of Abacus.

Abacus team members involved in the transaction included Timothy Wong, Jonathan Choa and Joseph Lee. Legal counsel was provided to Abacus by Choate Hall & Stewart.

Abacus is a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies.