Abacus Finance Group, a New York-based specialty finance company, served as administrative agent and sole lead arranger for a $35 million credit facility in support of the recapitalization of Park Place Technologies by WestView Capital Partners and the company’s management team. The credit facility, comprised of a cash flow-based term loan and revolver, will also be used to support Park Place Technologies’ future growth. In addition to providing the financing, Abacus, which focuses exclusively on providing senior cash-flow financing for private equity-sponsored, lower-middle market companies, made an equity co-investment in Park Place Technologies. Webster Bank participated in the financing, and legal counsel to Abacus was provided by Goulston & Storrs, LLP.

Cleveland-based Park Place Technologies is a leading provider of outsourced data center hardware maintenance, specializing in multi-vendor support for servers, storage and network equipment. WestView, a Boston-based private equity firm focused exclusively on lower-middle market companies, manages over $500 million in capital.

“We are fortunate to have a great working relationship with WestView, a longstanding sponsor client. Time after time, WestView has brought us quality companies, and we are especially excited about this transaction involving Park Place Technologies, a clear leader in their industry led by a superb management team,” said Tim Clifford, president and CEO of Abacus. “Our knowledge of the sector and our willingness to fully fund the transaction led to a smooth and timely close – important aspects of what we call our Total Partnership ApproachTM.”

Park Place Technologies is a provider of data center hardware maintenance, specializing in multi-vendor support for servers, storage and network equipment.

WestView Capital Partners, a Boston-based private equity firm focused exclusively on lower-middle market companies, manages over $500 million in capital across two funds.

Abacus Finance, headquartered in New York, is a private specialty finance company focused exclusively on providing cash-flow-based senior secured debt solutions to private equity-sponsored, lower-middle market 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 an affiliate of New York Private Bank & Trust.