Abacus Finance Group, LLC, 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 Lead Arranger for senior secured credit facilities to support the leveraged buyout of Surface Preparation Technologies LLC (SPT) by Branford Castle Partners L.P. (Branford Castle). Abacus also made an equity co-investment in SPT.

Founded in 1988 and based in Mechanicsburg, PA, SPT is the nation’s leading provider of shoulder and centerline rumble strips, having installed more than 150,000 miles of rumble strips across 48 states. Branford Castle is a private market investor that is focused on working with already strong companies that typically have under $100MM in sales.
 
“We are especially excited,” said Eric Korsten, Managing Director at Branford Castle, “to have worked on this investment with Abacus Finance Group.  They demonstrated flexibility and creativity during the execution and worked towards a successful close in a timely manner.”

“This was our first transaction with a firm that has been a leader in private equity investing since its beginnings under the guidance of John K. Castle. They were easy to work with and placed a high value on our flexibility and speed – key aspects of what we call our Total Partnership Approach™,” said Tim Clifford, President and CEO of Abacus. 

Abacus team members involved in the transaction included Aized Rabbani and Brian Green. Legal counsel was provided to Abacus by Goulston & Storrs, PC.