TSL Express Daily News

New York, NY, October 16, 2024 – Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger to support Achieve Partners in its leveraged buyout of Ascend Partners. Additionally, Abacus Finance Group made an equity co-investment in Ascend Partners.

Ascend Partners is a leading provider of bespoke EPM solutions and the most trusted OneStream Diamond Partner. Achieve Partners, a private equity firm, is engineering the future of learning and earning by investing in cutting-edge technologies and best-in-class technology, business, and healthcare services.

“I am glad that we were able to close our first deal with Abacus,” said Achieve Partners Managing Director Aanand Radia. “They quickly understood the business and were extremely constructive. We found them easy to work with, and the transaction was handled smoothly and efficiently.”

“We were pleased to have had the opportunity to complete our first transaction with the Achieve Partners team,” said Tim Clifford, President and CEO of Abacus. “Our ability to meet Achieve’s desire for a smooth execution in a short timeframe is just one of the many attributes of our Total Partnership Approach™.”

“Achieve was great to work with in this transaction, and we are excited to partner with them on a standout company,” added Abacus Vice President Austin Rendell. “Ascend has a demonstrated track record of success, growing at a rate significantly ahead of its peers.”

Abacus team member Greg Scanlon was also involved in the transaction. Legal counsel was provided to Abacus by Goulston & Storrs, PC.

About Ascend Partners

Ascend Partners is a leading provider of bespoke EPM solutions and the most trusted OneStream Diamond Partner. Ascend serves sophisticated global corporations seeking to enhance and futureproof their financial systems for their next stage of growth. From its dual headquarters in Toronto and Philadelphia, Ascend brings a decade of experience to the table, having successfully crafted and implemented over 80 OneStream frameworks for a growing portfolio of top-tier clients across many verticals, including real estate, manufacturing, mining, natural resources and energy. For more information, visit ascendpartners.com.

About Achieve Partners

Achieve Partners, a private equity firm, is engineering the future of learning and earning by investing in cutting-edge technologies and best-in-class technology, business, and healthcare services. Achieve focuses on addressing the talent gap in fast-growing ecosystems by providing companies with the resources they need to future-proof their workforce with investments in training. For more information, visit achievepartners.com.

About Abacus Finance Group, LLC

Abacus Finance is a leading direct lending company, focused on providing cash flow senior financing to private equity/family office-sponsored, lower middle-market companies across diverse industries. Since Abacus’s inception in 2011, it has closed over $3 billion in financings. The firm targets private debt financing opportunities of up to $50 million and finances companies with EBITDA between $3 million and $15 million. Abacus is an affiliate of New York Private Bank & Trust, which was founded in 1850.

Abacus Finance is located at 22 Vanderbilt Avenue, 5th Floor, New York, NY 10017. All inquiries and new investment opportunities should be directed to Tim Clifford at 212-850-462 or cliffordt@abacusfinance.com. Please visit abacusfinance.com for more information.

The Total Partnership Approach™, a registered trademark of Abacus Finance, LLC, brings together cash-flow financing expertise, deep industry knowledge and exceptional client service over the lifecycle of each investment – all providing our sponsors with certainty of close and giving them peace of mind. Our team’s deep industry knowledge combined with an obsession for efficiency results in a turnaround time of under 72 hours. This swift response time is just one aspect of our Total Partnership Approach™ – a comprehensive methodology that reflects our emphasis on growing relationships rather than just focusing on the number of transactions.

Why should you Count on Us™? The answer lies in the deep partnerships we forge by going well above and beyond what sponsors traditionally have come to expect. We don’t believe in the phrase “good enough.” We push ourselves to create custom financing solutions tailored for each company – deals are started from the ground up, and we work side-by-side with the private equity sponsors we serve during each stage of the transaction life cycle.