Oct 23, 2023

ABS Capital – a leading growth equity firm with more than three decades of experience scaling software and tech-enabled B2B businesses – announced the completion of a GP-led secondary transaction based around two of its portfolio companies: LabConnect and Viventium Software. The deal supports both companies’ significant continued growth opportunities, providing additional time and capital for growth initiatives while offering liquidity to existing limited partners. And ABS fund investors were provided a choice to receive liquidity or continue their investment. The deal is capitalized by a consortium of new and existing ABS investors – who subscribed to a new partnership managed and controlled by ABS. Kline Hill Partners and Five Arrows led this deal. LabConnect offers global central laboratory services, including routine and esoteric laboratory testing, kit building, sample management and tracking, storage, and scientific support services for pharmaceutical and biotechnology companies and clinical research organizations (CRO). Viventium is a leading cloud-based payroll and human capital management solution offering an exceptional user experience and insightful analytics for the health services markets, primarily home care agencies and skilled nursing facilities. KEY QUOTES: “The ABS Capital team is thrilled to partner with Kline Hill Partners and Five Arrows in supporting the continued growth of LabConnect and Viventium. We are extremely proud of both companies’ success so far, and of the attractive returns we have generated for our LPs. We believe there is significant future value in these assets.” — ABS Managing Partner Mike Avon “We are pleased to bring this GP-led transaction to fruition, and look forward to our partnership with ABS. This transaction reflects not only existing but also new investors’ strong conviction surrounding the continued growth potential of high-quality assets in the Healthcare and SaaS-based Human Capital Management spaces.” — Raudel Yanez, a Managing Director at Kline Hill Partners “We are excited to partner with ABS on this GP-led secondary transaction. The transaction embodies our strategy to support GPs and their portfolio companies in the next stage of value creation while helping to address liquidity, duration, and capital considerations. We were impressed by ABS’s thoughtful investment approach and have a shared belief that the assets are positioned for continued and sustainable growth.” — Brian Kolin, a Managing Director at Five Arrows Sponsors