Abacus Finance Group LLC has provided financing to back Thompson Street Capital Partners’ recapitalization of Ithaca, New York-based Palisade Corporation, which provides risk modeling and decision analysis software. No financial terms were disclosed. Abacus was the administrative agent and sole lender on the financing.
NEW YORK, NY, December 12, 2018 – Abacus Finance Group, LLC (Abacus), a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced today that it served as Administrative Agent and Sole Lender in support of Thompson Street Capital Partners’ recapitalization of Palisade Corporation.
Founded in 1984, Palisade serves more than 150,000 decision makers in more than ninety countries and ninety-three of the Fortune 100 companies. Thompson Street Capital Partners is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses.
“After multiple transactions with Abacus, we know them well, and once again they closed quickly – in large part because of their knowledge of the software sector,” said Thompson Street Vice President Stefan Sigurdson.
“Thompson Street is a top sponsor with deep expertise in software,” said Tim Clifford, President and CEO of Abacus. “It is a firm with which we have had one of our longest relationships, and one which values our flexibility and our ability to close quickly – key elements of what we call our Total Partnership Approach™.”
Abacus team members involved in the transaction included Jonathan Choa and Brian Green. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Palisade Corporation
Founded in 1984, Palisade serves more than 150,000 decision makers in more than ninety countries and ninety-three of the Fortune 100 companies. The Company’s flagship software solutions, @RISK and the DecisionTools Suite, enable Microsoft Excel and other technology platforms to perform powerful risk modeling and decision analysis. By harnessing the power of Monte Carlo simulation, decision trees, optimization, and other techniques, Palisade’s solutions enable users to fully understand risks and make better decisions. For more information, please visit palisade.com.
About Thompson Street Capital Partners
Thompson Street Capital Partners is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses. It has acquired more than 100 companies in the Healthcare & Life Science Services, Software & Technology Services and Business Services & Engineered Products sectors and has managed more than $2.6 billion since being founded in 2000. TSCP partners with management teams to increase value by accelerating growth, both organically and via complementary acquisitions.For more information, please visit tscp.com.
About Abacus Finance Group, LLC
Abacus Finance is a leading direct lending company, focused on providing cash flow senior financing to private equity-sponsored, lower-middle market companies nationwide. Since its inception in June 2011, it has closed over $1.9 billion in financings. Abacus targets debt financing opportunities of up to $60 million with a typical hold size ranging from $10 million to $30 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.