
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.