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Direct Investment  + LBOs  |  January 11, 2023
Abacus Finance Provides $17.5M Senior Debt Financing to Support LBO of Caster Connection
Joe Palmisano
By: Joe Palmisano

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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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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