Abacus Finance Group served as administrative agent and sole lead arranger on senior secured credit facilities to support the recapitalization of Let’s Pave by Saw Mill Capital.

Founded in 2015 and based in Oak Brook, IL, Let’s Pave is a national provider of parking lot maintenance and repair services to multi-location property owners through a network of preferred, local paving partners.

Based in Briarcliff Manor, NY, Saw Mill Capital is a private equity firm that acquires facility and industrial service, specialty distribution, and manufacturing businesses with enterprise values of $25 million to $200 million.

“From our perspective, this financing went very smoothly and efficiently,” said Tim Nelson, a partner at Saw Mill Capital. “Everything was completed on schedule, we received early assurance of closure, and the Abacus team proved to be responsive, flexible, and easy to work with.”

“This was our first investment with Saw Mill Capital,” said Tim Clifford, president and CEO of Abacus. “And we were very impressed with their level of due diligence and unique in-house research capabilities. As Tim indicated, they appreciated our ability to move quickly.”

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

Founding in 2011, Abacus Finance is a direct lending company, focused on providing cash flow senior financing to private equity-sponsored, lower-middle market companies across diverse industries. It provides cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA.