NEW YORK | August 1, 2017 – Abacus Group, LLC, a financial services focused IT solutions company, announced an investment from WestView Capital Partners to support its rapid growth as Abacus looks to maintain its leadership position and expand into new markets. Drake Star Partners acted as an exclusive financial advisor to Abacus Group on this transaction.
Founded in 2008, Abacus Group has successfully served the hedge fund and financial institution market by providing superior technology, expertise, and service. Abacus Group has been named the best cloud solution by WSL and HFM Technology, best cyber-security solution by CTA Intelligence, best place to work in New York City by Crain, and is consistently recognized in prominent industry publications, including MSPMentor and CRN.
Abacus Group provides three main products and services – AbacusFLEX, a professionally managed hosted IT solution covering all the primary needs of a modern financial services firm including state-of-the-art security and compliance functionality; Application Hosting, a fully redundant and secured managed infrastructure allowing clients to host any application in the cloud; and VOICE, a fully managed, hosted unified communications solution. It also provides desktop support and other ancillary services.
Chris Grandi, co-founder and CEO of Abacus Group said, “Jeff Baker and the Drake Star team ran an expedient and disciplined process that enabled us to achieve a great result with limited disruption to the day-to-day operations of our business. They provided valuable counsel with respect to building a market and structuring a deal, while demonstrating valuable insight in our segment that reflected a deep understanding of the major players and trends.”
Drake Star commented: “We were excited to advise another leader in the MSP market and believe with this investment Abacus is well positioned to maintain its leadership status. This transaction demonstrates Drake Star Partners’ deep sector expertise in the field of IT Services.”
About Abacus Group, LLC
Abacus Group, LLC is a leading provider of managed IT solutions focused on helping hedge funds, private equity funds and other financial institutions deploy and manage their IT. The Company’s scalable, secure and highly available private cloud IT platform allows investment managers to run all their technology as a service, providing firms with peace of mind and the ability to focus on their core business without sacrificing performance, security or resiliency. The Company is based in San Francisco, CA with additional offices in New York, NY; Boston, MA; Greenwich, CT; Dallas, TX; Charlotte NC; Los Angeles, CA; and London, England.
For more information, please visit www.abacusgroupllc.com
About WestView Capital Partners
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1 billion in capital across three funds. WestView partners with existing management teams to sponsor majority and minority recapitalizations, growth, and consolidation transactions in industries such as business services, software and IT services, consumer, healthcare technology and outsourcing and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $50 million.
For more information, please visit www.wvcapital.com
