ABS Capital, a Washington, DC-based growth equity firm investing in software and tech-enabled B2B businesses, closed a GP-led secondary transaction centered around two of its portfolio companies, LabConnect, Inc., and Viventium Software.
The transaction supports the significant continued growth opportunity for both companies, providing additional time and capital for growth initiatives, while offering liquidity to existing limited partners.
ABS fund investors were provided a choice to receive liquidity or continue their investment.
The transaction is capitalized by a consortium of new and existing ABS investors, who subscribed to a new partnership managed and controlled by ABS. The transaction was led by Kline Hill Partners and Five Arrows.
LabConnect is a provider of global central laboratory services including routine and esoteric laboratory testing, kit building, sample management and tracking, biostorage, and scientific support services for pharmaceutical and biotechnology companies and clinical research organizations (CRO).
Viventium is a cloud-based payroll and human capital management solution, providing analytics for the health services markets, primarily home care agencies and skilled nursing facilities.
FinSMEs
14/10/2023