Abacus Finance Group served as Senior Secured Credit Facilities Administrative Agent and Sole Lender for senior secured credit facilities to support the leveraged buyout of Summit Clinical Research, LLC by LongueVue Capital. Additionally, Abacus made an equity co-investment in Summit Clinical Research.

Summit Clinical Research, which was founded in 2018 and is headquartered in San Antonio, TX, is an integrated research organization specializing in the field of Hepatology – the study of medicine that deals with diseases of the liver – with a focus on Non-Alcoholic Steatohepatitis (NASH). Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm that focuses on providing human capital, financial capital, and a skill set built upon a successful 20+ year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies.

“Once again, great work by the Abacus team,” said LongueVue Partner Ryan Nagim. “They know the sector well, and the result was a smoothly executed transaction, which is their hallmark.”

“This is our seventh transaction with LongueVue Capital with whom we have built a terrific relationship over the years,” said Tim Clifford, President, and CEO of Abacus. “As in earlier transactions for them, our success was a function of our speed, cash-flow flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach™.” Added Abacus Managing Director Eric Petersen, “They have consistently brought us attractive opportunities like Summit that align well with our investment strategy.”

Abacus team members involved in the transaction included Eric Petersen, Joseph Lee, and Greg Scanlon. Legal counsel was provided to Abacus by Goulston & Storrs, PC.