West Palm Beach, FL, February 2014: Comvest Partners is pleased to announce that Comvest Investment Partners IV (“Comvest”) has completed its investment in BEL USA (“BEL” or the “Company”), a provider of customized promotional products, including drinkware, tote bags, pens, t-shirts and a variety of other printed items. Headquartered in Miami, FL, BEL sells to both corporate customers and consumers primarily through its online retail website at www.DiscountMugs.com.
“We are extremely excited to partner with BEL and its founder, Amin Ramjee,” said Tom Clark, Managing Director at Comvest Partners. “BEL has developed a unique business model that is positioned to benefit as the $19 billion promotional products industry continues to shift online and consolidate.”
“I am excited to work with our new partners at Comvest in order to continue growing BEL,” said Amin Ramjee, President and CEO of BEL.
BEL was advised on the transaction by Bollinger / Wells and Bilzin Sumberg, while Comvest was advised by Lazard Middle Market and McDermott Will & Emery. Debt financing was provided for the transaction by a bank group led by SunTrust Bank that also included Fifth Third Bank and Florida Community Bank.
About BEL USA:
BEL is a provider of customized promotional products, including drinkware, tote bags, pens, t-shirts and a variety of other printed items. Headquartered in Miami, FL, BEL sells to both corporate customers and consumers primarily through its online retail website at www.DiscountMugs.com.
About Comvest:
Comvest Partners, with $1.2 billion of assets under management, provides flexible financing solutions to lower middle-market companies through its equity and debt funds, often meeting time-critical and complex funding requirements. Our firm includes seasoned, senior level operating executives who partner with managers and owners of companies to operationally improve businesses and create long-term value. Since 2000, Comvest has invested more than $1.8 billion of capital in over 125 public and private companies. Please visit www.comvest.com.