Abacus Finance Group has provided credit facilities to back LongueVue Capital’s buyout of Traco Packaging. Abacus was the administrative agent and lead arranger on the financing. Based in Orem, Utah, Traco Packaging is a provider of packaging equipment and shrink film products.
New York, NY, July 19, 2021 – Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Administrative Agent and Lead Arranger for senior secured credit facilities to support the leveraged buyout of Traco Packaging by LongueVue Capital.
Traco Packaging, based in Orem, Utah, is a leading U.S. manufacturer and distributor of packaging equipment and shrink film products. Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm focused on providing human capital, financial capital, and a skill set built upon a successful 20-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies.
“Once again, it was great to work with the Abacus team,” said LongueVue Partner Ryan Nagim. “This is our fourth transaction with Abacus, and we continuously rely on them for their flexibility and seamless execution capabilities.”
“As Ryan noted, this is our fourth financing with LongueVue, a firm for which we have come to have a great deal of respect,” said Tim Clifford, President and CEO of Abacus.
“They are always enjoyable to partner with and know the sector well given their platform history and operating partner network,” added Abacus Director Eric Petersen, “which makes our due diligence easy, an important factor because LVC puts a high value on our flexibility and speed – key aspects of our Total Partnership Approach™.”
Abacus team members involved in the transaction included Eric Petersen and Austin Rendell. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Traco Packaging
Traco Packaging, based in Orem, Utah, is a leading U.S. manufacturer and distributor of packaging equipment and shrink film products. For the past 35 years Traco has provided its customers with packaging equipment and supplies of all varieties. Traco produces more than 1 million printed and clear shrink sleeves and tamper-evident bands every day. Please visit tracopackaging.com for more information.
About LongueVue Capital
Founded in 2001, LongueVue Capital (LVC) is a New Orleans-based private equity firm that focuses on providing human capital, financial capital, and a skill set built upon a successful 20-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies. Having managed over $500 million of capital spanning three funds coupled with 150 years of combined operating and investing experience, the LVC team is the ideal partner for middle market companies at inflection points and seeking to maximize value. LVC’s opportunistic investment strategy provides the flexibility to partner with attractive businesses across a variety of industries and situations, and they tailor transaction structures to meet the company and stakeholders’ objectives. Together with their entrepreneur and management team partners, LVC helps create superior value for their portfolio companies and investors. For more information, please visit www.lvcpartners.com.