Abacus joins refinancing of US-based software consultant

The New York-based direct lender teamed up with Webster Bank to refinance Rizing with senior credit lines.

Abacus Finance Group and Webster Bank provided $29.5 million in senior credit facilities to refinance Rizing, a software consulting firm and Bunker Hill Capital portfolio company. New York-based direct lender, Abacus Finance was joint lead arranger on the transaction, according to an announcement by the firm.

“As in other transactions, success was a function of our speed, flexibility and ability to provide certainty of close – important aspects of what we call our Total Partnership Approach,” said Tim Clifford, president and chief executive officer of Abacus Finance.

Formed in 2011, Abacus provides cash-flow financing of up to $50 million for private equity-sponsored, lower-middle market companies. Abacus is an affiliate of New York Private Bank & Trust, the holding company for Emigrant Bank.

Rizing is headquartered in Stamford, Conneticut and provides consults with companies on implementing SAP information technology systems. It has 13 offices across the globe.

Bunker Hill Capital is a Boston-based private equity firm focused on lower-middle market companies in the industrial products, business services, consumer products and specialty retail sectors.