West Palm Beach, Fla. – Comvest Credit Partners (“Comvest”), a leading provider of flexible financing solutions to middle-market companies, has acted as Administrative Agent in providing a $55 million senior secured credit facility (the “Financing”) to Wilnat, Inc. (d/b/a “KGM”), a Tulsa, Okla.-based provider of measurement and regulation equipment and related services to the natural gas utility industry. The Financing was used to support the acquisition of KGM by Compass Group Equity Partners (“CGEP”), a private equity firm.
Founded in 2000, KGM is a value-added distributor of a full suite of measurement products for gas distribution utilities, commercial and industrial customers, municipalities, and pipeline operators, primarily in the central and southern United States. KGM offers the top brands in measurement meters, gas regulators, valves, and controls, among other equipment, as well as in-house repair, refurbishment, and other services.
“Comvest is excited to support CGEP in the acquisition and growth of KGM, which has built an excellent reputation as a one-stop provider of mission-critical products and superior services for its many natural gas customers,” said Greg Reynolds, Partner, at Comvest.
“Comvest is pleased to close another successful transaction with CGEP and to continue expanding our relationship in support of strong platform companies in a variety of sectors, from healthcare services to industrial products,” said Joe Higginbotham, Principal, at Comvest. “As always, we drew upon Comvest’s specialized sector expertise to deliver a timely and bespoke financing solution designed to support KGM’s growth in the months and years ahead.”
KGM is a value-add distributor and servicer of meters, regulators, valves, and other measuring devices primarily serving utility and municipality customers throughout the United States. KGM also provides servicing and technical refurbishment of meters and ancillary measuring equipment. Its products and services are critical to the country’s infrastructure, and KGM is a true value-add partner to both its OEMs and end customers. For more information, please visit www.kgmgas.com
About Compass Group Equity Partners:
Compass Group Equity Partners is a St. Louis-based private investment firm that partners with small to medium-sized private companies that prioritize people, values, and results. The firm was founded in 2014 to leverage the group’s experience as entrepreneurs, business owners, and executives to invest alongside owners and management teams of closely held businesses with a focus on long-term value creation. For more information, please visit www.cgep.com
About Comvest Credit Partners:
Comvest Credit Partners 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 $250 million-plus for companies with revenues greater than $20 million. Comvest has offices located in West Palm Beach, Chicago and New York. For more information, please visit www.comvest.com/direct-lending
About Comvest Partners:
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the U.S. Since its founding in 2000, Comvest has invested over $7.7 billion. Today, Comvest Partners has over $6.4 billion of assets under management. Through extensive capital resources and a 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 www.comvest.com
For more information, please contact:
Greg Reynolds, Partner, Co-Head Direct Lending, Comvest Credit Partners – G.Reynolds@comvest.com
Joe Higginbotham, Principal, Comvest Credit Partners – J.Higginbotham@comvest.com