West Palm Beach, FL – Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Lender in providing a $41.6 million Senior Secured Credit Facility (the “Financing”) to Altruista Health, Inc. (“Altruista Health”), a provider of care management and population health management solutions. Altruista Health is a portfolio company of Martis Capital Management, LLC (“Martis Capital”). The Financing was used to refinance certain existing debt and help support the ongoing and future growth of the business.

About Altruista Health:

Altruista Health delivers care management and population health management solutions that support value-based and person-centered care models. Their GuidingCare® technology platform integrates care management, care coordination, authorization management using evidence-based guidelines, member and provider appeals & grievances and quality improvement programs through a suite of sophisticated yet easy-to-use web applications. Health plans and healthcare providers use GuidingCare to transform their processes, reduce avoidable expenses and improve patient health outcomes. Founded in 2007 and headquartered in the Washington, DC area, Altruista Health has grown into a recognized industry leader as GuidingCare has become the largest and most widely adopted platform of its kind in the United States. The company has roots in serving complex populations but has scaled rapidly to serve large national health plans with a full spectrum of members across 40+ states. Employing more than 500 staff members globally, the company supports 35,000 care manager users on the platform daily. Altruista Health has twice been named a Top Population Health Company to Know by Becker’s Healthcare and has earned local and national recognition for growth and innovation. For more information, please visit the website.

About Martis Capital:

Martis Capital is a private investment firm focused exclusively on the healthcare and wellness sector. The Martis team manages more than $1.2 billion of equity capital and is currently investing out of its third fund. With offices in San Francisco, CA, and Washington, DC, Martis seeks to invest in middle market growth companies that provide innovative and cost-effective products and services within targeted segments of the North American healthcare services and information technology sub-sectors. For more information, please visit the website.

About Comvest Credit Partners:

Comvest focuses on providing flexible financing solutions to middle-market companies. Comvest provides senior secured, unitranche, second lien, and mezzanine capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $200 million for companies with revenues greater than $20 million. Comvest has offices located in West Palm Beach, Chicago, Los Angeles and New York. For more information, please visit the 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 $5.1 billion. Today, Comvest Partner’s funds have over $3.6 billion of assets under management. Through an extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit the website.

WEST PALM BEACH, Fla., April 28, 2020 (GLOBE NEWSWIRE) — Comvest Partners (“Comvest”) is pleased to announce that Renee Rempe has joined the Firm as a Managing Director in Comvest’s direct lending group, Comvest Credit Partners. Renee will be based in Comvest’s Chicago office and will be responsible for managing and directing strategy on investments within the Comvest Credit Partners’ portfolio.

Renee joins Comvest with over 25 years of experience managing and restructuring middle market loan assets, including senior management roles within Heller Financial / GE Capital Commercial Finance and GE Antares Capital / Antares Capital. Most recently, Renee was with Canadian Imperial Bank of Commerce (CIBC).

“We are very pleased to have Renee join the team at Comvest,” said Greg Reynolds, Partner and Co-Head of Direct Lending at Comvest Credit Partners. “Her long, accomplished career managing debt investments across various economic cycles is a great complement to the Comvest Credit Partners team and we look forward to her contributions to the strategy. Additionally, many of us at Comvest Credit Partners have worked with or alongside Renee throughout our careers and it’s great to have the opportunity to work with her again as a leader within the team.”

Ms. Rempe said, “Comvest has an outstanding track record and I look forward to applying my restructuring experience to enhance their team and strategy. My background and experience is well suited to the areas of the market where Comvest Credit Partners has established a leading brand, including non-traditional sponsor lending and less competitive sectors of the middle market. These sectors require a hands-on, entrepreneurial approach to oversight, and I believe my background will further complement Comvest Credit Partners’ proven ability to manage complex situations.”

About Comvest Credit Partners:
Comvest Credit Partners provides 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 $20 million.

About Comvest Partners:
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across North America. Since its founding in 2000, Comvest has invested $4.9 billion. Today, Comvest’s funds have over $3.7 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 www.comvest.com.

West Palm Beach, FL – Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Lender in providing a $92.2 million Senior Secured Credit Facility (the “Financing”) to Cassavant Holdings, LLC (“Cassavant”), a vertically-integrated manufacturer of precision-machined components and sub-assemblies serving the aerospace and defense industries.  The Financing was used to fund the acquisition by Gallant Capital Partners (“Gallant”) and refinance certain existing debt.

About Cassavant

Founded in 1972 and headquartered in Phoenix, AZ, Cassavant is a leading manufacturer of critical components for engines, APUs, fuel and fluid systems, gears, hydraulics, and valves for the majority of commercial, military and business jet platforms serving the aerospace and defense industry. Cassavant is a key supplier for major global OEMs and utilizes its vertically integrated manufacturing expertise and broad capabilities set to deliver high quality products and services to its customers. For more information, please visit the website.

About Gallant Capital Partners

Gallant Capital Partners is a private equity firm that makes control investments in technology, industrial and business services companies. Gallant executes on an operationally focused investment strategy with a focus on partnering closely with companies that can benefit from its extensive industry relationships and operating expertise. The firm partners with owners, founders, family-owned companies and management teams to maximize value and long-term, sustainable growth for portfolio companies. Gallant Capital Partners was founded in 2018 and is headquartered in Los Angeles. For more information, please visit the website.

About Comvest Credit Partners

Comvest focuses on providing flexible financing solutions to middle-market companies. Comvest provides senior secured, unitranche, second lien, and mezzanine capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $200 million for companies with revenues greater than $20 million.  Comvest has offices located in West Palm Beach, Chicago, Los Angeles and New York.  For more information, please visit the 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 $4.9 billion. Today, Comvest Partner’s funds have over $3.7 billion of assets under management. Through an extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance.  For more information, please visit the website.

West Palm Beach, FL – Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Sole Lender in providing a Senior Credit Facility (the “Financing”) to Aspyr Holdings LLC (“Aspyr” or the “Company”), an area representative and franchisee of 33 Orangetheory Fitness locations in San Diego, Orange County, Long Beach, San Francisco and East Bay regions of California.  Proceeds of the Financing were used alongside an equity investment led by New Heights Capital and Tensile Capital Management for a minority recapitalization, purchase of 4 additional studios, retirement of existing debt, and growth initiatives.

“We are excited to partner with Aspyr to support the growth of the Company and the development of additional studios in its regions,” said Rich Steere, Managing Partner of New Heights Capital.  “Marc Thomas and Pete Selner, co-CEOs of Aspyr, have done a fantastic job building their studios, teams and member base.  Independently, they have already built one of the largest franchisee groups in the country and have distinguished themselves as performance leaders.  With support from Comvest and our equity investment, we expect to accelerate Aspyr’s growth and footprint within the Orangetheory Fitness network.”

“Aspyr has a strong track record of attracting and retaining customers due to Orangetheory Fitness’ unique and results driven fitness solution. The Company’s high level of customer engagement and use of technology has produced exceptional performance and we are excited to partner with the Company as they continue to grow.” said Colleen Gurda, Managing Director at Comvest.

Piper Jaffray & Co. served as financial advisor to Aspyr Holdings with Integrity Square LLC advising New Heights Capital and Tensile Capital Management.

About Orangetheory

Orangetheory® makes it simple to get More Life from your workout. One of the worlds fastest-growing franchise companies, Orangetheory has developed a unique approach to fitness that blends a unique trifecta of science, coaching and technology that work together seamlessly to elevate participants’ heart rate to help burn more calories. Backed by the science of excess post-exercise oxygen consumptions (EPOC), Orangetheory workouts incorporate endurance, strength and power to generate the “Orange Effect” whereby participants keep burning calories for up to 36 hours after a 60-minute workout. Orangetheory franchisees have opened over 1,300 studios in all 50 U.S. states and over 23 countries. The company was ranked #60 in Inc. magazine’s Fastest Growing Private Companies list and was listed as #25 on the 2019 Entrepreneur Franchise 500 list. For more information please visit the website.

About New Heights Capital

New Heights Capital is a private equity investment firm focused exclusively on equity investments in consumer service companies and the technology enabled service companies that service those consumer businesses.  New Heights Capital sponsored and led the Aspyr Holdings recapitalization.  For over a decade, the firm has been an active investor in the fitness industry, partnering with leading companies in the industry, including Orangetheory Fitness, Edge Fitness, and ABC Financial.  The firm invests in buyouts, recapitalizations and growth investments in businesses between $5mm-100mm in revenues.  For more information, please visit the website.

About Tensile Capital Management

Tensile Capital Management is a San Francisco-based investment firm managing $1.5 billion in committed capital through an “evergreen” fund structure. Tensile seeks to generate superior risk-adjusted, after-tax returns through long-term investments in a concentrated portfolio of undervalued public securities and select private businesses. With respect to its private investments, Tensile’s ability to invest throughout the capital structure, flexibility in structuring minority investments and active and collaborative partnerships with management teams and boards of directors can provide unique solutions for business owners.  For more information, please visit the 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 $25 million to $200 million for companies with revenues greater than $15 million.  For more information, please visit the 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 $4.7 billion. Today, Comvest Partner’s funds have over $3.7 billion of assets under management. Through an extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance.  For more information, please visit the website.

Comvest Partners (“Comvest”) is pleased to announce its investment in Encompass Supply Chain Solutions, Inc. (“Encompass” or the “Company”). With distribution facilities located in Lawrenceville, GA, Davie, FL and Las Vegas, NV, Encompass is recognized as a leading supplier of genuine repair parts, primarily serving the home appliance, consumer electronics, computing, personal care and HVAC end markets.

The Company serves both business and consumer customers across the U.S. with access to original parts from more than 200 manufacturers. Its business-to-business customer base largely comprises national retailers, underwriters, dealers, manufacturers, property management companies and distributors. Beyond distribution, Encompass offers a wide range of 4PL parts supply chain services, most notably parts forecasting, procurement & inventory management and accounts receivable services. The Company is also one of the only parts suppliers in the industry to maintain an on-site depot repair facility.

“As the nation’s broadest multi-vertical parts distributor, we believe Encompass is well positioned to maintain our growth trajectory,” said Encompass President and CEO Robert Coolidge.  “With the addition of Comvest’s support, we are excited to continue investing in a variety of innovative initiatives to enhance support to our customers. Technology upgrades and automation are among the key elements of our ongoing strategy to further strengthen Encompass’ standing in the market.”

“Encompass’ diverse product offerings, combined with integrated customer and vendor relationships through their comprehensive 4PL services, make for a compelling investment opportunity,” said Maneesh Chawla, Partner in Comvest Partners’ Strategic Growth strategy. “We are thrilled to partner with Robert and the rest of the leadership team to support their future growth plans.”

Comvest was advised by Akerman LLP.  Encompass was advised by Metronome Partners and Proskauer Rose LLP.

About Encompass Supply Chain Solutions, Inc.

Formed in 1953, Encompass is one of the country’s largest suppliers of repair parts and accessories for products throughout the home. Encompass also offers complete parts supply chain management, 3PL, depot repair and reverse logistics services. In addition to consumers, the Company supports an array of B2B customers, including manufacturers, multi-family property management companies, warranty providers, service networks, independent dealers and retailers. For more information, please visit https://solutions.encompass.com.

About Comvest Partners

Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across North America. Since its founding in 2000, Comvest has invested over $4.7 billion. Today, Comvest’s funds have over $3.7 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 www.comvest.com.

Comvest Partners (“Comvest”) is pleased to announce that it has completed the sale of SunteckTTS Inc. (“SunteckTTS”), a leading multi-modal transportation solutions provider, to MODE Transportation (“MODE” or the “Company”), a leading North American third-party transportation and logistics company.

The combined Company will offer a broad range of capabilities across all major modes of transportation including truckload, less-than-truckload, rail intermodal, drayage, air, ocean and parcel freight which will facilitate more than 1.5 million annual customer shipments and generate over $2 billion of revenue.

Comvest acquired the predecessor to SunteckTTS in April 2013 through a take-private transaction and later completed a merger with TTS to create SunteckTTS in December 2016. Through the merger with TTS and under Comvest’s ownership, SunteckTTS became one of the largest multimodal, agent-based freight management service providers in the U.S., generating over $1 billion in gross revenue and managing more than 800,000 intermodal, truckload and less-than-truckload shipments annually.

“We admire the SunteckTTS team’s dedication to building and growing one of the premier leaders in the 3PL transportation and logistics sector,” said Roger Marrero, Managing Partner at Comvest. “We are grateful to have had such a collaborative and synergistic partnership with our Executive Partner, Ken Forster, and the rest of the SunteckTTS senior team.

“Our partnership with Comvest has been instrumental to this exciting phase of growth at SunteckTTS,” said Ken Forster, previously CEO of SunteckTTS and now President & COO of MODE. “We look forward to the future at MODE, providing our agents, shippers, and carrier partners a significantly enhanced platform position for the future.”

Piper Jaffray and Harris Williams acted as financial advisors and McDermott Will & Emery acted as legal advisor to SunteckTTS in connection with the sale to MODE. MODE received legal advice from Kirkland & Ellis, LLP.

About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across North America. Since its founding in 2000, Comvest has invested over $4.7 billion. Today, Comvest’s funds have over $3.7 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 www.comvest.com.

West Palm Beach, FL – (November 8, 2019) – Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Sole Lender in providing a $45.0 million senior secured term loan (the “Financing”) to HOP Energy, LLC (“HOP Energy”), a portfolio company of Delos Capital.

“We are pleased to be partnering with Comvest for this important Financing. Comvest not only has a deep understanding of our industry, but also the value proposition of HOP Energy,” said Michael Anton, CEO of HOP Energy.

“HOP Energy continues to excel at customer service by providing 24/7 support across the Northeast United States. We look forward to supporting HOP Energy as it continues to build on its over 20 year history providing heating solutions to its longstanding customer base,” said Colleen Gurda, Senior Vice President at Comvest.

About HOP Energy, LLC

Based in White Plains, NY, HOP Energy, LLC is a specialty distributor of heating oil, propane and other petroleum products and related services to homeowners and small businesses in the Mid-Atlantic and Northeast regions of the United States. For more information, please visit their website.

About Delos Capital

Delos Capital, founded in 2013, is a lower middle market private equity firm specializing in management buyouts, recapitalizations, and growth investments. For more information, please visit their website.

About Comvest Credit Partners

Comvest focuses on providing flexible financing solutions to middle-market companies. Comvest provides senior secured, unitranche, second lien, and mezzanine capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $200 million for companies with revenues greater than $20 million.  Comvest has offices located in West Palm Beach, Chicago, Los Angeles and New York.  For more information, please visit the 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 $4.7 billion. Today, Comvest Partner’s funds have over $3.7 billion of assets under management. Through an extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance.  For more information, please visit the website.

West Palm Beach, FL – October 15, 2019 – Comvest Credit Partners (“Comvest”) acted as Administrative Agent and Joint Lead Arranger in a senior credit facility (the “Financing”) to support New State Capital Partners’ (“New State”) recapitalization of Global Holdings Acquisition, LLC. (“Global Holdings” or the “Company”). 

“Comvest has proven to be a great lending partner with deep expertise in the debt settlement industry,” said John Beauclair, Senior Principal at New State. 

“As an existing lender to the Company since 2018, we are pleased to expand our relationship with the Company and New State. Global Holdings continues to emphasize the importance of client relations, which has resulted in high levels of recurring revenue and long-standing relationships with its customers,” said Tim Kim, Vice President at Comvest.

Global Holdings

Global Holdings, founded in 2003, is the leading dedicated account and payment processing provider to the consumer debt settlement industry, serving each of the leading consumer debt settlement businesses in the United States. For more information, please visit their website.

About New State Capital Partners

New State Capital Partners LLC is an entrepreneurial-minded private equity firm that strives to be more nimble, more decisive and more cooperative than larger, institutional firms. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships, rather than as an exercise in meeting rigid investing criteria. The firm is very flexible about the structure of its investment and focuses on growth and add-on investment. New State seeks to invest in market-leading companies with $8 million to $30 million of EBITDA in the areas of business services, industrials, consumer, and healthcare services. New State can commit more than $50 million of equity capital per transaction through New State Capital Partners II, LP. New State and its affiliates have invested in 22 companies to date. For more information visit website

About Comvest Credit Partners

Comvest focuses on providing flexible financing solutions to middle-market companies. Comvest provides senior secured, unitranche, second lien, and mezzanine capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $200 million for companies with revenues greater than $20 million.  Comvest has offices located in West Palm Beach, Chicago, Los Angeles and New York. For more information, please visit the 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 $4.5 billion. Today, Comvest Partner’s funds have over $3.3 billion of assets under management. Through an extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance.  For more information, please visit the website.  

MIAMI–IMC Health Medical Centers, a portfolio company of Comvest Partners and Athyrium Capital Management, announced today that it has acquired Carlos Iglesias, MD, a primary care practice focused on managed care members.

Dr. Iglesias will practice in IMC’s SW 8^th Street location following a communication and orientation of his existing patients.  Dr. Iglesias’ patients will immediately benefit from the full offering of IMC’s primary care and specialist services.

“We are very excited to have Dr. Iglesias become part of IMC,” said William C. Lamoreaux, Chief Executive Officer of IMC. “His commitment to his patients has driven strong loyalty and superior patient outcomes. The patients will also benefit from the vast array of medical and social services offered by IMC.”

Dr. Iglesias said, “I am pleased to be joining IMC and leverage their extensive experience in managed care. My practice is now well positioned to grow and my patients will have access to services that are simply not available in a small practice.”

The acquisition of Dr. Iglesias highlights Comvest’s and Athyrium’s continued commitment to enabling growth in IMC through strategic acquisitions.

About IMC Health Medical Centers

IMC Health Medical Centers operates 13 centers in Miami Dade, Broward and Orange counties. We provide primary and specialty services to Medicare, Medicaid, and Commercial patients. Our patient centered medical home model focuses on preventative, acute, and chronic healthcare delivery, resulting in improved patient outcomes for adults and children. For more information, please visit www.IMCHealth.com.

About Comvest Partners

Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across North America. Since its founding in 2000, Comvest has invested over $4.5 billion. Today, Comvest’s funds have over $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. For more information, please visit www.comvest.com.

About Athyrium Capital Management

Athyrium is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium advises funds with over $3.7 billion in committed capital. The Athyrium team has substantial investment experience across a wide range of asset classes including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium invests across all healthcare verticals including biopharma, medical devices and products, healthcare focused services, and healthcare information technology. The team partners with management teams to implement creative financing solutions to companies’ capital needs. For more information, please visit www.athyrium.com.

West Palm Beach, FL – (July 9, 2019) – Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Lender in providing a $50.0 million senior secured credit facility  (the “Financing”) to PM Pediatrics Management Group, LLC (“PM Pediatrics” or the “Company”), a pediatric urgent care provider.  The financing was used to retire certain existing debt and finance new clinic growth.

“We are excited to partner with Comvest Credit Partners as we position our Company for further growth,” said Company executive David Biehl.  “Comvest worked quickly to provide an optimal financing structure to satisfy our current and future needs.” 

“We are very pleased to partner with PM Pediatrics on this transaction. The Company maintains an outstanding reputation in the market, which is a testament to its strong management team and differentiated urgent care platform,” said Greg Reynolds, Partner at Comvest.

About PM Pediatrics

PM Pediatrics is a leading provider of pediatric urgent care services for children and young adults across ten states. Unlike traditional urgent care practices, PM Pediatrics specializes in treating patients from the cradle to college, 365 days a year, every day until midnight. The Company is staffed by pediatric emergency specialists, including pediatric emergency physicians and board-certified pediatricians, who are specially trained in treating children in urgent care situations while minimizing pain and unnecessary tests. For more information, please visit their website https://www.pmpediatrics.com/.

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 $20 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 $4.0 billion. Today, Comvest’s funds have $3.2 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.