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Direct Investment  + LBOs  | 
Abacus Finance Provides $17.5M Senior Debt Financing to Support LBO of Caster Connection

Abacus Finance Provides $17.5M Senior Debt Financing to Support LBO of Caster Connection

Abacus Finance Group, a provider of financing for companies with $3mn to $15mn in EBIDTA, served as senior secured credit facilities agent and lead arranger for $17.5 million in senior secured credit facilities to support the leveraged buyout of Caster Connection by private equity firm River Associates Investments.

Founded in 1987, Caster Connection manufactures, distributes, and supplies high-quality and innovative casters and related components and parts.

“Over the years River Associates has been terrific partner, a great fit for us given their investment strategy and the thoroughness of their due diligence preparation,” said Tim Clifford, President and CEO of Abacus.

Abacus’ financing solutions include revolvers, term loans and equity co-investments. The company originated over $2.6 billion in loan commitments as of the end of 2021, according to its website.

Abacus team members involved in the transaction included Eric Petersen and Austin Rendell. Legal counsel was provided to Abacus by Goulston & Storrs, PC.

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Abacus Finance Group

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.