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 a senior secured credit facility (the “Financing”) for Discovery Senior Living (“Discovery”), a Bonita Springs, Fla.-based third-party operator of senior housing communities backed by Lee Equity Partners and Coastwood Senior Housing Partners. The Financing will be used to refinance the business and support near-term acquisitions.

Founded in 1994, Discovery manages more than 30,000 senior living units across 38 states, making it the fifth largest senior housing operator in the United States. Discovery’s additional service lines include Discovery at Home, a Medicare-certified home health agency, and Discovery Development Group, a provider of real estate design, development and procurement services for senior housing communities.

“Discovery is a scaled provider of senior living operating services with an impressive history of organic growth. Industry tailwinds continue to be extremely favorable for long-term care services with the nation’s aging population,” said Tom Goila, a partner of Comvest and Co-Head of Healthcare for the firm’s direct lending strategy.

“Comvest was pleased to deliver a flexible facility to help support Discovery through its next phase of growth,” said Bryce Peterson, a Managing Director of Comvest and Co-Head of Healthcare for the firm’s direct lending strategy. “This transaction marks Comvest’s third with Lee Equity Partners in support of a healthcare services provider. We look forward to working with Coastwood and to further strengthening our relationship with the Lee team in helping Discovery achieve its expansion goals.”

About Discovery Senior Living
Discovery Senior Living is an asset-light provider of senior living community property management, real estate design/development, and home health services for senior living communities. Discovery offers comprehensive solutions to both property owners and residents at the national, regional, and individual community levels. For more information, please visit https://www.discoveryseniorliving.com/

About Lee Equity Partners
Lee Equity Partners, LLC is a New York-based private equity firm that partners with successful management teams to build companies with strong growth potential. Lee Equity targets equity investments of $50 million to $150 million in middle-market control buyouts and growth capital financings in companies with enterprise values of $100 million to $500 million that are located primarily in the United States. The firm invests within three distinct sectors, healthcare services, financial services, and business services, where the team has developed deep relationships over decades. More information is available at www.leeequity.com.

About Coastwood Senior Housing Partners
Coastwood Senior Housing Partners, LLC is an investment firm led by Daniel A. Decker that specializes in seniors housing and related services. The Coastwood partners have extensive investment experience in the senior housing and healthcare services industries, including investments in Omega Healthcare Investors (OHI), Sunrise Senior Living, and Sentio, as well as board experience in a variety of publicly owned and private healthcare service companies.

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 $250 million-plus. For more information, please visit www.comvest.com/direct-lending.

About Comvest Partners

Comvest Partners is an operationally focused 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, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages $10.4 billion in assets, and has invested over $12.4 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visit www.comvest.com.