Abacus backs language training company

The New York-based specialty lender supported Vincente Capital Partners' investment in Global LT with a $17m senior debt package.

Abacus Finance Group has provided a $16.75 million senior secured credit facility to assist private equity firm’s Vicente Capital Partners' investment in Global LT, a language training provider.

New York-based Abacus is a specialty lending company that provides cash-flow senior financing for private equity-backed, lower-mid-market companies. It served as the administrative agent and sole lead arranger in this transaction. Abacus executives involved in the transaction included Timothy Wong and Eric Petersen.

“We were excited to work with Vicente Capital Partners,” said Tim Clifford, President and chief executive of Abacus Finance, in a statement. “The firm’s investment strategy and its expertise in consumer services, business services, and specialty manufacturing make it the perfect match for Abacus’ lending platform.”

Global LT is headquartered in Troy, MI, and provides outsourced language training, translations and mobile solutions to corporations. 

Vicente Capital Partners takes both control and non-control private equity stakes in growth businesses that have annual revenues of $5 million to $50 million. It works with a variety of different industries, including business services, consumer services and specialty manufacturing. 

“The Abacus Finance team proved to be a trusted partner on a transaction that required a tight turnaround,” Jay Ferguson, managing partner at Vicente Capital Partners, said in a statement. “Abacus delivered certainty of close at the outset, flexibility on structure, and a high level of support throughout the process.”