West Palm Beach, FL – Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Sole Lender in providing a $60.0 million Senior Credit Facility to Speed Leasing Company (“Speed Leasing”), a portfolio company of 777 Partners. Speed Leasing is a pre-owned motorcycle leasing company.
“We are excited to be partnering with Comvest as we continue to grow our portfolio. We selected Comvest primarily due to their knowledge and experience in the specialty finance sector and we appreciate their efforts to close this transaction expeditiously,” said Hasham Malik, Chief Executive Officer of Speed Leasing.
“We are impressed by Hasham and the rest of the Speed Leasing senior team and believe they are well-positioned to continue building upon their growth,” said Jason Gelberd, Partner at Comvest.
About Speed Leasing:
Speed Leasing provides a pre-owned motorcycle lease product through its partnerships with over 220 independent dealerships across the United States.
About 777 Partners:
Headquartered in Miami, Florida, 777 Partners is a private investment firm with expertise in financial services that specializes in control investments across a broad array of industries and geographies. The firm employs proprietary capital and management friendly structures to capitalize on opportunities quickly and creatively to maximize long term value. To date 777 has deployed capital across various verticals including insurance, consumer finance, litigation finance, financial technology, aviation, energy & infrastructure as well as special opportunities.
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.
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 $3.9 billion in over 180 companies. Today, Comvest’s funds have $3.3 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.