Abacus Finance Group has provided senior debt financing to back WestView Capital Partners’ growth recapitalization of Kymanox Corporation. Also, Abacus has made an equity co-investment in Kymanox. No financial terms were disclosed. Abacus was administrative agent and lead arranger on the financing. Based in Morrisville, North Carolina, Kymanox is a life science professional services company.
New York, NY, August 23, 2021 – Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the growth recapitalization of Kymanox Corporation by WestView Capital Partners. Abacus also made an equity co-investment in Kymanox.
Headquartered in Morrisville, North Carolina USA, Kymanox offers comprehensive engineering, development, and compliance support to clients who bring important gene and cell therapies, combination products, biopharmaceuticals, and medical devices to market. WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds.
“We’ve known Abacus for a long time and know that we can always depend on them for a smooth and successful transaction,” said Jonathan Hunnicutt, WestView General Partner. “As usual, they did not disappoint” added Westview Principal Jeff Clark, “and, as in past transactions, they took the time to fully understand the cash flow needs of the business and provided a flexible financing solution that supports future growth.”
“It was great to work once again with the WestView principals, some of whom we have known for more than a decade,” said Tim Clifford, President and CEO of Abacus. “They have consistently brought us attractive opportunities like Kymanox that align well with our investment strategy.”
“We were extremely impressed with Kymanox’s senior management team,” added Sean McKeever, Abacus Managing Director & COO, “and are excited to be their financing partner as they embark on the next stage of their growth in an attractive sector. As in other transactions, our success was a function of our speed, flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach™.”
Abacus team members involved in the transaction included Sean McKeever and Joseph Lee. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Kymanox Corporation
Kymanox is a life science professional services organization that offers engineering, scientific, and compliance support to companies exclusively in the biotechnology, pharmaceutical, medical device, and combination product industries. With its diverse team of experts, Kymanox helps clients navigate commercialization challenges that arise throughout a product’s life cycle – from early development to post-market – with optimized safety, quality, efficacy, and accessibility. Kymanox was founded in 2004 and is headquartered in Morrisville, North Carolina USA. For more information, please visit kymanox.com.
About WestView Capital Partners:
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as healthcare technology and outsourcing, business services, software and IT services, consumer, and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $60 million. Please visit wvcapital.com for more information.
About Abacus Finance Group, LLC
Celebrating its tenth anniversary in 2021, 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 $2 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.