Abacus Finance Group acted as administrative agent and sole lead arranger for $23 million in senior secured credit facilities to support the acquisition of FocusVision Worldwide by Thompson Street Capital Partners in partnership with FocusVision management. Headquartered in Stamford, CT, FocusVision is a provider of online video transmission, analysis and archive solutions for the qualitative market research industry.
Abacus Finance Group, LLC (Abacus), a New York-based specialty finance company, announced today that it served as Administrative Agent and Sole Lead Arranger for $23 million in senior secured credit facilities to support the acquisition of FocusVision Worldwide, Inc. (FocusVision) by Thompson Street Capital Partners (Thompson Street) in partnership with FocusVision management. Abacus focuses exclusively on providing senior cash-flow financing for private equity-sponsored, lower-middle market companies.
Headquartered in Stamford, CT, FocusVision is the leading global provider of online video transmission, analysis and archive solutions for the qualitative market research industry. Thompson Street is a St. Louis-based private equity firm that invests in service, distribution and manufacturing businesses.
“This was a new relationship for us, and it proved to be a valuable one,” said Elizabeth R. Borow, Managing Director of Thompson Street. “We explored a range of structures for this transaction, and the Abacus team’s flexibility and their tech-enabled services experience were critical to the process. Most important, however, were their commitment during due diligence and the certainty of close they provided. Abacus is definitely a firm we will turn to again.”
“Given their lower-middle market focus and our transaction experience in the industry sectors they target, Thompson Street is an excellent match for us,” said Tim Clifford, President and CEO of Abacus. “Liz and her partners were great to work with and brought us a terrific company in FocusVision, one with a strong management team and a dominant market leadership position at the forefront of the rapidly growing market for web-enabled market research tools. What was particularly important to Thompson Street was finding a financing partner who is easy to work with, fully understands the needs of financial sponsors, and is capable of delivering outstanding service. Providing this level of customer experience is what we call our Total Partnership ApproachTM.”
Other Abacus team members involved in the transaction included Sean McKeever and Song Pettus.
Goulston & Storrs, LLP provided legal counsel to Abacus.
About FocusVision Worldwide, Inc.
Founded in 1990, FocusVision is the leading global provider of online video transmission, analysis and archive solutions for the qualitative market research industry. With transmission solutions for all venues, including the largest global network of focus group facilities, FocusVision delivers the highest audio and video quality, reliability and security for the most advanced research organizations in the world. FocusVision, which has approximately 100 employees, is headquartered in Stamford, CT and has offices in London and Singapore. Visit focusvision.com for more information.
About Thompson Street Capital Partners
Thompson Street is a St. Louis-based private equity firm that invests in service, distribution and manufacturing businesses via recapitalizations, management buyouts, corporate divestitures and family businesses in transition. Founded in 2000, Thompson Street has managed more than $800 million in private equity capital and is currently investing its third fund. The firm partners with management teams to increase value by accelerating growth, both organically and via complementary acquisitions. Visit tscp.com for more information.
About Abacus Finance Group, LLC
Abacus Finance, headquartered in New York, is a lower-middle market specialty finance company, focused on providing senior cash-flow financing to private equity-sponsored companies nationwide. Formed in June 2011, Abacus targets debt financing opportunities of up to $50 million with a typical hold size ranging from $10 million to $25 million, and the companies it finances generally have EBITDA between $3 million and $15 million. Abacus is sponsored by New York Private Bank & Trust, the holding company for Emigrant Bank, which was founded in 1850 and is the largest family-owned bank in America.
Abacus is headquartered at 6 East 43rd Street, 20th Floor, New York, NY 10017. All inquiries and new investment opportunities should be directed to Tim Clifford at 212-850-4620 or to [email protected]