Financing supports acquisition of majority stake in the Pilates workout fitness chain by L Catterton

West Palm Beach, Fla. – Comvest Credit Partners, a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Joint Lead Arranger on a $325 million senior secured credit facility for Solidcore, a Pilates workout fitness chain based in Rosslyn, Va. The financing supports the acquisition of a majority stake in Solidcore by private equity firm L Catterton.

Solidcore owns and operates a national network of fitness studios providing targeted strength training on custom-built Pilates reformer machines. Since its founding in 2013, Solidcore has grown to approximately 130 locations across 25 states and the District of Columbia, with a significant presence along the East Coast.

“Solidcore is a leading brand in Pilates, the fastest-growing segment of the boutique fitness industry, and offers compelling historical growth, strong financial performance, and the support of a leading consumer-focused private equity sponsor,” said Nick McClelland, a Managing Director and Co-Head of Consumer & Retail at Comvest Credit Partners. “Comvest Credit Partners looks forward to working with the L Catterton team to support Solidcore’s continued business growth and expansion into existing and new markets.”

About Solidcore

Solidcore is a boutique Pilates fitness chain with locations across the United States. For more information, please visit www.solidcore.co.

About Comvest Credit Partners

Comvest Credit Partners, the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $300 million-plus. For more information, please visit comvest.com/direct-lending.

About Comvest Partners

Comvest Partners (“Comvest”) is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages $15.3 billion in assets, and has invested over $14.4 billion since inception. Comvest is based in West Palm Beach, with offices in Chicago and New York City. For more information, please visit comvest.com.

West Palm Beach, Fla. – Comvest Credit Partners (“Comvest Credit”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent and is the sole lender on a $165 million senior secured credit facility (the “Financing”) for Diesco Industries (“Diesco”, or the “Company”). The Financing will be used to refinance Diesco’s existing debt while providing flexibility for its continued growth and expansion.

Diesco is a family-owned leading beverage and integrated packaging and bottler producer based in the Dominican Republic with significant presence across Latin America. The Company owns and operates vertically integrated manufacturing companies of non-alcoholic beverage products and lightweight packaging, managing a portfolio that encompasses branded and private label products across multiple categories including bottled water, carbonated drinks, caps, and bottles. Diesco serves food and beverage end markets, with operations in Puerto Rico, Dominican Republic, and Colombia.

“Comvest Credit is committed to providing responsive credit financing solutions directly to well-positioned market leaders within our industries of focus,” said Tom Goila, Partner, at Comvest Credit. “Diesco is a top producer of diverse and growing beverage and packaging brands in the Caribbean. We are pleased to provide a flexible facility that addresses the Company’s strategic goals.”

“Comvest Credit was able to serve as the single-source provider of the facility size we sought to support our business objectives,” said Manuel Diez, Diesco’s Founder and CEO. “In addition to its capital support, the team ran an efficient process and got the deal done on an extremely aggressive timeline, which put us in excellent position to execute our strategic plan as we start the new year. As always, we remain committed to innovation, high-end performance and meeting evolving consumer needs.”

About Diesco Industries

Diesco Industries is the industrial business unit of Alyon, a regional conglomerate with over six decades of existence and diversified in multiple sectors, such as packaging production, beverage bottling, real estate development and Investment management. For more information, please visit www.diesco.com and www.alyon.com.

About Comvest Credit Partners

Comvest Credit Partners (“Comvest Credit”), the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $300 million-plus. For more information, please visit comvest.com/direct-lending.

About Comvest Partners

Comvest Partners (“Comvest”) is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages $15.3 billion in assets, and has invested over $14.4 billion since inception. Comvest is based in West Palm Beach, with offices in Chicago and New York City. For more information, please visit comvest.com.

West Palm Beach, Fla. – Comvest Private Equity (“Comvest”), a leading middle-market private equity investment group, is pleased to announce that its portfolio investment Bland Landscaping (“Bland”) has acquired Koehn Outdoor (“Koehn”), of Jacksonville, Fla.

Bland is a leading provider of commercial landscaping services in the Carolinas, with 12 branch locations. Its acquisition of Koehn – a landscape management provider focused on homeowners associations and multifamily customers in North Florida and South Georgia – extends Bland’s footprint to new, growing markets in the Southeast.

Koehn was founded in 2004 by David Koehn, President, who will continue in his current role leading the company’s Jacksonville office. Koehn’s services include contractual maintenance, seasonal enhancements, irrigation services, pest control and tree services.

“Koehn brings an impressive growth profile as well as a key strategic location to anchor Bland’s presence in North Florida,” said Matt Kunz, a Principal of Comvest. “We look forward to supporting the growth of two regional industry leaders.”

“We are excited to enter Florida and join forces with another founder-led team and premier provider of landscaping services,” said Kurt Bland, Bland’s Chief Executive Officer. “Koehn shares our core values and commitment to providing exceptional results for clients. We look forward to our partnership to drive growth in Northeast Florida and other key metropolitan areas in the region.”

“This collaboration represents an incredible opportunity for both teams,” said Mr. Koehn. “By leveraging our combined resources, we can achieve even greater success while remaining true to our commitment to quality and customer satisfaction.”

About Koehn Outdoor

Koehn Outdoor is a premier provider of landscape management to commercial clients in Northeast Florida and South Georgia. For more information, please visit: https://www.koehnoutdoor.com.

About Bland Landscaping

Bland Landscaping is a regional commercial and estate landscape management and contracting business headquartered in Apex, N.C. Best known for its horticultural landscaping and grounds management work, Bland Landscaping also performs contract care of memorial gardens, parks, and estate grounds alongside stormwater and pond management services. Led by a team of seasoned industry leaders, Bland Landscaping has been recognized with numerous industry awards and noted for its commitment to the industry and to local communities. For more information, please visit: https://blandlandscaping.com.

About Comvest Private Equity

Comvest Private Equity is the private equity strategy of Comvest Partners, a leading private equity and credit investment firm with $15.3 billion of assets under management and over $14.4 billion invested since its inception in 2000. Based in West Palm Beach, Comvest Private Equity pursues control investments in leading middle-market companies that can benefit from the strategy’s financial sponsorship, strategic guidance, and operating resources to build businesses for lasting growth. Committed to the principles of partnership and collaboration, Comvest Private Equity’s investment professionals bring deep industry expertise, significant transaction experience, and a broad network of industry relationships to their work with management to execute strategic initiatives focused on driving growth and operational improvement in the core business. For more information, please visit https://comvest.com/private-equity.

West Palm Beach, Fla. – Comvest Private Equity (“Comvest”), a leading middle-market private equity investment group, is pleased to announce the recapitalization of Bland Landscaping (“Bland”), an Apex, N.C.-based regional provider of commercial landscaping services.

Founded in 1976, Bland provides a comprehensive suite of premium landscaping maintenance and enhancement services to commercial clients across diverse end markets spanning homeowners associations, multifamily properties, Class A offices, industrial centers, and municipalities across North and South Carolina. Bland is a leading landscaping services provider in the Carolinas, having completed seven complementary acquisitions since 2019, and employs more than 700 employees across 12 branch locations. The company will continue to be led by its current management team, including Kurt Bland, Chief Executive Officer, and Matt Bland, Chief Financial Officer and Chief Operating Officer.

“We are excited to welcome Bland to the Comvest Private Equity portfolio and to partner with an exceptional leadership team,” said Maneesh Chawla, Managing Partner of Comvest. “Bland exemplifies our investment approach of backing strong management teams of companies within our core industry verticals who can benefit from Comvest’s financial and operational resources to drive scale.”

“Bland has successfully executed on its vision to become a recognized market leader,” added Matt Kunz, a Principal of Comvest. “We believe the company has significant runway for further organic and acquisitive growth across the Southeast. Bland brings both an impressive track record of performance and a reputation for consistently delivering high-quality service.”

“We are thrilled to be working with Comvest, with its history of successful partnerships with family-led companies, specialized experience in the field services space, and support of acquisitive strategies,” said Kurt Bland. “The Comvest team shares our commitment to investing in our people and infrastructure so we can continue to innovate our service offering and broaden our reach.”

Citizens M&A Advisory served as financial advisor to Bland in connection with the transaction. TM Capital served as financial advisor and Akerman LLP served as legal advisor to Comvest.

About Bland Landscaping

Bland Landscaping is a regional commercial and estate landscape management and contracting business headquartered in Apex, N.C. Best known for its horticultural landscaping and grounds management work, Bland Landscaping also performs contract care of memorial gardens, parks, and estate grounds alongside stormwater and pond management services. Led by a team of seasoned industry leaders, Bland Landscaping has been recognized with numerous industry awards and noted for its commitment to the industry and to local communities. For more information, please visit: https://blandlandscaping.com

About Comvest Private Equity

Comvest Private Equity is the private equity strategy of Comvest Partners, a leading private equity and credit investment firm with $12.9 billion of assets under management and over $14.4 billion invested since its inception in 2000. Based in West Palm Beach, Comvest Private Equity pursues control investments in leading middle-market companies that can benefit from the strategy’s financial sponsorship, strategic guidance, and operating resources to build businesses for lasting growth. Committed to the principles of partnership and collaboration, Comvest Private Equity’s investment professionals bring deep industry expertise, significant transaction experience, and a broad network of industry relationships to their work with management to execute strategic initiatives focused on driving growth and operational improvement in the core business. For more information, please visit https://comvest.com/private-equity.

West Palm Beach, Fla. – Comvest Credit Partners (“Comvest Credit”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent on a new $230 million senior secured credit facility (the “Financing”) for Pollo Tropical, a Miami-based quick-service restaurant chain specializing in Latin-Caribbean-style cuisine. The Financing will be used to support Pollo Tropical’s refinancing and growth. It follows an earlier Comvest Credit financing for the 2023 take-private acquisition of Fiesta Restaurant Group, Inc., the parent company of Pollo Tropical, by Authentic Restaurant Brands, a portfolio company of Garnett Station Partners (“Garnett Station”). Bain Capital served as a co-lender in the Financing.

Founded in 1988, Pollo Tropical operates 125 quick-service restaurants throughout Florida and franchises 25 units primarily internationally, with locations in Puerto Rico, Central America, South America and the Bahamas. Pollo Tropical features a menu with distinct offerings and is well-known for its citrus-marinated chicken, mojo roast pork and sides, all served with a focus on delivering freshness and quality at a compelling value.

“Comvest Credit remains committed to providing capital solutions for leading niche restaurant concepts in attractive geographies,” said Nick McClelland, Managing Director and Co-Head of Consumer & Retail at Comvest Credit. “Pollo Tropical is a strong performer with a well-established brand in locations with favorable demographic trends.”  

“Pollo Tropical marks another successful transaction closing between Comvest and Garnett Station in the restaurant space,” said David Gibson, Managing Director and Co-Head of Consumer & Retail at Comvest Credit. “We look forward to building on our work together in support of Pollo Tropical’s continued growth.”

Howard Norowitz, Partner and Head of Debt Capital Markets at Garnett Station, added, “Comvest Credit continues to be a responsive financing provider for distinctive restaurant concepts across our investment portfolio. The team brought its considerable sector expertise and resources to structure a flexible financing solution that will enable Pollo Tropical to continue to capitalize on growth opportunities.”

About Pollo Tropical

Pollo Tropical is a restaurant brand that specializes in the operation of fast casual/quick service restaurants that offer distinct and unique flavors with broad appeal at a compelling value. The brand features fresh-made cooking, drive-thru service, and catering. For more information, please visit https://www.pollotropical.com.

About Garnett Station Partners

Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages over $2 billion of assets. Garnett Station partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments. Core sectors include consumer and business services, health & wellness, automotive, and food & beverage. Garnett Station’s culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability. For more information, please visit www.garnettstation.com.

About Comvest Credit Partners

Comvest Credit Partners (“Comvest Credit”), the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $300 million-plus. For more information, please visit comvest.com/direct-lending.

About Comvest Partners

Comvest Partners (“Comvest”) is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages $12.9 billion in assets, and has invested over $14.4 billion since inception. Comvest is based in West Palm Beach, with offices in Chicago and New York City. For more information, please visit comvest.com.

West Palm Beach, Fla. – Comvest Credit Partners (“Comvest Credit”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent and is the Sole Lender on an $85 million senior secured credit facility to support the acquisition of Seatex by The Riverside Company (“Riverside”).

Seatex is a leading formulator, manufacturer and provider of specialty chemicals and chemical technology solutions to a diverse set of end markets. Its capabilities encompass virtually every aspect of chemical solutions, from process development and formulation support to specialty blending, grinding and milling, and complex reactions. Seatex serves customers ranging from startups to Fortune 100 businesses, supporting products available in liquid, powder, solids and portion control packages. Founded in 1967, Seatex maintains headquarters in Rosenberg, Texas, along with two additional manufacturing facilities.

“Comvest Credit continues to focus on investing in well-positioned industrial businesses with strong value propositions and defensible market share,” said Chris O’Donnell, a Managing Director and Co-Head of Industrials at Comvest Credit. “Seatex is a long-tenured company that serves a diversified blue-chip customer base with value-added chemical manufacturing capabilities companies typically do not have in house. Additionally, Seatex has the backing of a private equity sponsor with experience in the specialty chemicals sector.”

“We had a terrific experience working with the Comvest Credit team. They delivered a customized facility on a tight timeline that supported our acquisition and responded to Seatex’s need for flexibility and desired capacity for future growth,” said Craig Kahler, a Partner of Riverside.

About Seatex

Seatex is a chemical manufacturer that provides a range of services for specialty chemicals to a variety of industries, including construction, food and beverage, coatings, adhesives, sealants, elastomers, household, industrial, and institutional cleaning, lubricants, and metalworking. For more information, please visit https://seatexcorp.com/.

About Comvest Credit Partners

Comvest Credit Partners (“Comvest Credit”), the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $300 million-plus. For more information, please visit comvest.com/direct-lending.

About Comvest Partners

Comvest Partners (“Comvest”) is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages $12.9 billion in assets, and has invested over $14.4 billion since inception. Comvest is based in West Palm Beach, with offices in Chicago and New York City. For more information, please visit comvest.com.

West Palm Beach, Fla. – Comvest Credit Partners (“Comvest Credit”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent on a $144 million senior secured credit facility (the “Financing”) for Sportime Clubs, LLC (“Sportime”), a leading operator of tennis and sports clubs in the New York tri-state area. The Financing will be used to support the recapitalization of the company and provide capital for business growth.

Founded in 1994, Sportime owns and operates 17 club locations in New York and New Jersey. Its clubs offer state-of-the art facilities for tennis, pickleball, sports and camps, and feature specialized sports training programs, including the John McEnroe Tennis Academy (“JMTA”) and the SPORTIME Volleyball Club.

“Sportime is a premier tennis and sports club operator with a long history of consistent performance and a unique brand from its association with the JMTA, one of the top junior tennis programs in the country,” said Nick McClelland, a Managing Director and Co-Head of Consumer and Retail for Comvest Credit.

“Comvest Credit is pleased to invest in Sportime’s continued growth through a flexible facility structured to provide immediate capital with runway to support the company’s later capital needs,” added David Gibson, a Managing Director and Co-Head of Consumer and Retail for Comvest Credit.

“We are excited to build a relationship with Comvest Credit, a leading debt investor in the consumer and retail sector with substantial experience in numerous multi-unit retail categories,” said Claude Okin, Chief Executive Officer of Sportime. “Comvest Credit’s financing will help Sportime to continue our growth through the addition of sites and expanded offerings, as we strive to meet the rising demand for recreational and competitive tennis, pickleball and other sports during this exciting period for our company.”

About Sportime

Sportime is a leading operator of tennis and sports clubs in the New York tri-state area, offering indoor and outdoor tennis, pickleball and sports facilities and programs, at clubs across Long Island and in New York City, Westchester and the New York Capital region. Sportime has been the home of the John McEnroe Tennis Academy at New York City’s Randall Island since 2010, with JMTA programs now offered at Sportime sites in Amagansett, Port Washington and Syosset, on Long Island, and at Lake Isle, Eastchester, in Westchester. For more information, visit https://sportimeny.com.

About Comvest Credit Partners

Comvest Credit Partners (“Comvest Credit”), the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $300 million-plus. For more information, please visit comvest.com/direct-lending.

About Comvest Partners

Comvest Partners is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages $12.9 billion in assets, and has invested over $14.4 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York City. For more information, please visit comvest.com.

West Palm Beach, Fla. – Comvest Private Equity (“Comvest”), a leading middle-market private equity investment group, is pleased to announce a majority investment in Riccobene Associates Family Dentistry (“Riccobene”), a leading dental services organization (DSO) based in Cary, N.C., in partnership with its Founder and Chief Executive Officer, Dr. Michael Riccobene, DDS. Riccobene becomes the 14th healthcare services platform investment by Comvest’s private equity strategy.

Founded in 2000, Riccobene supports a growing network of 62 multi-specialty dentistry clinics across North Carolina, Virginia and South Carolina that provide comprehensive general and specialty dental services. Driven by its patient-first focus and doctor-centric culture, Riccobene has grown significantly in recent years and now supports more than 150 providers across its clinics. Dr. Riccobene has retained a meaningful stake in the business and will continue to lead the company in his current role as Chief Executive Officer alongside the existing management team.

“Riccobene is a best-in-class DSO platform with a strong founder- and physician-led team, an impeccable reputation among clinicians and patients, and a proven growth playbook that includes successful de novo launches and clinic acquisitions in an attractive geographic region,” said Marshall Griffin, a Partner of Comvest. “Comvest is excited to support Michael and his stellar team and provide strategic and operational resources to help accelerate Riccobene’s rapid pace of clinic expansion in the Southeast.”

“We are thrilled to partner with Comvest to execute Riccobene’s next chapter of growth,” Dr. Riccobene said. “Comvest brings considerable experience and success working alongside founders to scale multi-site consumer-focused healthcare services platforms, with a strong background and expertise in the dental services space. Comvest also shares our patient-first approach and our commitment to investing in advanced systems and technologies as well as in processes and teams to ensure the highest quality of clinic operations and patient care.”

William Blair & Company served as financial advisor to Riccobene in connection with the transaction. DC Advisory and Cantor Fitzgerald & Co. served as financial advisors and McDermott Will & Emery served as legal advisor to Comvest.

About Riccobene Associates Family Dentistry

Riccobene Associates Family Dentistry is a leading DSO platform facilitating high-quality general and multi-specialty dental services across North Carolina, Virginia and South Carolina. Through its state of the art facilities in the Southeast, best-in-class clinical teams, and patient-centric approach to care, Riccobene provides comprehensive and individualized care across its 62 clinics. For more information, please visit www.brushandfloss.com.

About Comvest Private Equity

Comvest Private Equity is the private equity strategy of Comvest Partners, a leading private equity and credit investment firm with $12.5 billion of assets under management and over $13.5 billion invested since its inception in 2000. Based in West Palm Beach, Comvest Private Equity pursues control investments in leading middle-market companies that can benefit from the strategy’s financial sponsorship, strategic guidance, and operating resources to build for lasting growth. Committed to the principles of partnership and collaboration, Comvest Private Equity’s investment professionals bring deep industry expertise, significant transaction experience, and a broad network of industry relationships to their work with management to execute strategic initiatives focused on driving growth and operational improvement in the core business. For more information, please visit https://comvest.com/private-equity.

Kevin Blitz Joins Direct Lending Platform as a Managing Director

West Palm Beach, Fla. – Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that Kevin Blitz has joined the direct lending investment platform as a Managing Director. Mr. Blitz is responsible for originating, structuring and managing debt investments across Comvest’s targeted investment industries with a primary focus on the healthcare sector. He is based in Comvest’s Chicago office.

Mr. Blitz brings nearly two decades of debt financing experience and healthcare-related relationships to Comvest. His career includes a variety of leadership roles spanning middle-market originations, underwriting and portfolio management, serving both private equity sponsors and healthcare companies directly. Prior to joining Comvest, he spent 17 years at Capital One and its predecessor, GE Capital, most recently as Managing Director of Sponsor Originations, and held various other management positions in structuring and underwriting. Mr. Blitz began his career at PricewaterhouseCoopers as a Certified Public Accountant in its Transaction Services practice.

“We are excited to welcome Kevin to the Comvest Credit Partners team,” said Tom Goila, a Partner of Comvest. “Kevin brings significant middle-market lending and structuring experience in healthcare and other industries, and longstanding relationships with private equity sponsors. We are confident that his leadership and financing skillset will advance our work developing successful flexible financing solutions for sponsors and healthcare companies.”

“Comvest Credit Partners has built a strong reputation as a leading middle-market lender with deep domain expertise and the ability to provide unique financing solutions to both sponsored and non-sponsored borrowers,” Mr. Blitz said. “I am thrilled to join such a well-positioned platform and look forward to working alongside an incredibly talented team.”

About Comvest Credit Partners

Comvest Credit Partners, the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $300 million-plus. For more information, please visit comvest.com/direct-lending.

About Comvest Partners

Comvest Partners is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages $12.5 billion in assets, and has invested over $13.5 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York City. For more information, please visit comvest.com.

Transaction marks Comvest’s 4th investment in Purchasing Power since 2016; financing now $218 million

West Palm Beach, Fla. – Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent on an upsized $218 million senior secured credit facility (the “Financing”) for Purchasing Power, an Atlanta-based provider of voluntary employee benefits. The Financing marks the third upsize Comvest has supported for Purchasing Power since 2016, and will be used to refinance existing debt, provide a dividend to investors and support continued business growth.

Purchasing Power provides voluntary employee payroll deduction programs for the purchase of consumer goods and services, serving a nationwide customer base of Fortune 500 companies, associations, government agencies and other large businesses. Purchasing Power’s employee offering includes thousands of leading brands across a range of product categories such as electronics, computers, furniture, and appliances along with financial literacy tools and financial wellness resources such as one-on-one financial coaching.

“Purchasing Power is a market leader in the voluntary benefits and e-commerce industries with more than two decades of proven financial performance, strong customer retention and consistent customer growth,” said Jason Gelberd, Partner, Chief Operating Officer and Co-Head of Direct Lending at Comvest. “Comvest is pleased to have served as Purchasing Power’s primary credit financing provider since 2016. Amending and upsizing the Purchasing Power credit facility reflects our belief in the company’s continued growth and in its sponsor, Flexpoint Ford.”

“Comvest Credit Partners has been a responsive provider of creative credit solutions,” said Ron Oertell, the Chief Financial Officer of Purchasing Power. “The Comvest team has provided flexible support through a range of market conditions over the past eight years along with increasing facility sizes to support the growth of our business during an exciting period of expansion and innovation.”

About Purchasing Power

Purchasing Power is an Atlanta-based voluntary benefit company celebrating more than 20 years as the leading employee purchase program for consumer products and services through payroll deduction. Helping employees achieve financial flexibility, Purchasing Power is available to millions of people through large companies including Fortune 500s, associations and government agencies. For more information, visit https://corp.purchasingpower.com

About Flexpoint Ford

Flexpoint Ford is a private equity investment firm that has approximately $8.2 billion of regulatory assets under management and specializes in privately negotiated investments in the financial services and healthcare industries. Since the firm’s formation in 2005, Flexpoint Ford has completed investments across a broad range of investment sizes, structures, and asset classes. Flexpoint Ford has offices in Chicago, Illinois, and New York, New York. For more information, visit: www.flexpointford.com.

About Comvest Credit Partners

Comvest Credit Partners, the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $300 million-plus. For more information, please visit comvest.com/direct-lending.

About Comvest Partners

Comvest Partners is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages $12.5 billion in assets, and has invested over $13.5 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York City. For more information, please visit comvest.com.