Abacus Finance Agents Financing to Support AMP Acquisition of Kason
SEP 11, 2019 - 6:10 am
Abacus Finance Group served as administrative agent and sole lender for senior secured credit facilities to support the acquisition of Kason by Advanced Material Processing (AMP), a newly formed May River Capital portfolio company.
Founded in 1967 and based in Millburn, NJ, Kason offers the widest selection of screening and processing equipment in the world – from the most basic machines to the most sophisticated high capacity systems.
Founded in 1938 and headquartered in Marion, IA, Marion Process Solutions is a designer and manufacturer of built-to-order custom process solution equipment and systems.
May River Capital is a Chicago-based private equity firm focused on investing in lower middle market industrial growth companies. Both businesses are wholly owned by AMP.
“The transaction was handled smoothly and rapidly from the outset,” said May River Capital founder Chip Grace. “We were impressed that the Abacus team knew both the material processing sector and the company. They were responsive, efficient, easy to work, and delivered on time as promised.”
“This was our first transaction with May River,” said Tim Clifford, president and CEO of Abacus, “and we were pleased that they worked so well with us during what was a very smooth due diligence process.”
“They were an excellent team to work with,” added Abacus Director Eric Petersen, “and made our underwriting and documentation easy. Therefore, we were able to move quickly – an important aspect of Making Life Easier through our Total Partnership Approach.”
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.
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