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 that it served as Administrative Agent and Sole Lender in providing incremental capital to support the add-on acquisition of Pan Medical U.S. Corp. (PanMed) by Zavation Medical Products, LLC (Zavation), a LongueVue Capital (LVC) portfolio company.  

Based in Jackson, MS, Zavation designs, engineers, and manufactures a portfolio of spinal hardware and biologics covering key areas that include cervical, thoracolumbar, interbody fusion, and minimally invasive surgery. PanMed, headquartered in Tampa, FL, designs, develops, and manufactures highly complex medical products used in minimally invasive procedures, primarily in the kyphoplasty and interventional radiology markets. LVC is a private equity firm focused on making situation-driven, value-oriented equity and debt investments in lower-middle market companies to support buyouts, recapitalizations, acquisitions and growth.

“Speed of execution and ease of documentation were critical given the timing of the deal, and Abacus came through for us,” said LVC Partner Ryan Nagim. “The multiple transactions we have done with Abacus gives us strong confidence in their due diligence and execution skills.”

“This is our third financing with LVC, a firm for which we have come to have a great deal of respect,” said Tim Clifford, President and CEO of Abacus. “They know the space very well,” added Abacus Senior Vice President Eric Petersen, “which made our due diligence easy, an important factor because LVC puts a high value on our flexibility and speed – key aspects of what we call our Total Partnership Approach™.”