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 has acted as Administrative Agent on an $87.5 million senior secured credit facility (the “Financing”) for EPS School Specialty (“EPS,” or the “Company”), a national provider of literary education curriculum. The Financing was used to refinance existing debt and fund the acquisition of the Company from School Specialty, LLC, a provider of school educational products and services, by private equity firm Excolere Equity Partners. Comvest also made an equity co-investment in the business.
EPS is a leading developer of curriculum products and services that enhance literacy and math skills for K-12th grade students, particularly those who are two-plus years behind grade level. The Company partners with school districts nationwide to provide supplemental literacy education programs for students. Its literacy curriculum includes teacher materials, student workbooks, in-class reading and learning exercises, and other literacy activities and assessments.
“EPS’s literacy curriculum solutions provide schools nationwide a key tool to help address systemic student achievement gaps in reading and math,” said Brian Cercek, a Managing Director at Comvest. “This transaction showcases Comvest’s ability to underwrite corporate carve-outs and structure tailored, need-responsive financing solutions.”
“Comvest is pleased to support Excolere Equity Partners, which brings deep experience in the education sector, in EPS’s next chapter as a standalone company,” said Joe Higginbotham, a Managing Director at Comvest.
About EPS School Specialty
EPS School Specialty is a leading PreK–12 curriculum company providing supplemental ELA and math solutions that promote achievement and equitable education for all students. EPS School Specialty provides solutions combining research-based curriculum and customized professional learning to help move students toward growth, mastery, and success. For more information, visit https://eps.schoolspecialty.com.
About Excolere Equity Partners, LLC
Excolere Equity Partners is a middle market private equity firm specializing in investments in the the Education and Human Capital Management sector. Grounded in an understanding of the fundamental role that those sectors play in driving economic and societal progress, Excolere leverages its deep sector experience and strategic and operational expertise to accelerate the growth and enhance the impact of the companies in which it invests. For more information, please visit www.excolerepartners.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. Credit facilities typically range from $25 million to $250 million-plus for companies with revenues greater than $20 million. 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 more than $8.9 billion in assets, and has invested over $9.9 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.