WEST PALM BEACH, FL. – Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and lender in providing a $24.0 million Senior Term Loan (the “Financing”) to Vintage Stock Inc. (“Vintage Stock” or the “Company”), a discount specialty entertainment retailer and subsidiary of Live Ventures Incorporated (NASDAQ:LIVE). The Financing was used primarily to refinance/paydown certain existing debt and to fund working capital growth.
“We are excited to partner with Comvest. This Financing will strengthen Vintage Stock’s position as one of America’s largest, award-winning entertainment retailers,” said Jon Isaac, President and CEO of Live Ventures Incorporated, a publicly-traded holding company and the parent company of Vintage Stock.
“The Company’s ability to produce consistent results in an evolving retail environment over the past several years is a testament to its strong management team and operations. We look forward to a long relationship with Vintage Stock.” said Jason Gelberd, Partner at Comvest.
About Vintage Stock, Inc.:
Vintage Stock is an award-winning entertainment retailer, selling new and preowned movies, classic and current generation video games and systems, music on CD & LP, collectible comics, books, toys, and more. Vintage Stock, through its stores and website, ships product worldwide directly to the customer’s doorstep. For more information, please visit their website.
About Comvest Credit Partners:
Comvest Credit Partners, through affiliated private funds, focuses on providing flexible financing solutions to middle-market companies. We provide senior secured, unitranche, second lien, and mezzanine capital as well as equity co-investments. We lend to sponsored and non-sponsored companies, in support of refinancings, growth capital, acquisitions, buyouts, and recapitalizations. Credit facilities typically range from $20 million to $200 million for companies with revenues greater than $15 million. For more information, please visit our website.
About Comvest Partners:
Comvest Partners is a private investment firm providing equity and debt to middle-market companies across the U.S. Since its founding in 2000, Comvest has invested over $3.3 billion in over 165 companies. Today, Comvest’s funds have $3.1 billion of assets under management. Through our extensive capital resources and broad network of industry relationships, we offer our companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit our website.