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 a $30 million senior secured credit facility (the “Financing”) to The JG Wentworth Company, LLC (“JG Wentworth,” or the “Company”), a leading provider of consumer financial services. The Financing was used to fund a strategic acquisition by the Company and provide capital for further business growth.
Founded in 1991, JG Wentworth offers a line of tailored consumer financial solutions. In addition to leading the structured settlement payment purchasing industry, JG Wentworth has successfully expanded into personalized debt resolution programs and will soon launch into consumer financing services through its online lending platform.
“JG Wentworth is a market leader with a strong reputation for providing financial solutions that help consumers with a variety of personal finance needs,” said Jason Gelberd, a Partner of Comvest and Co-Head of Direct Lending. “Comvest was pleased to draw on our significant expertise in the specialty finance sector to structure a thoughtful and unique facility tailored to JG Wentworth’s growth objectives.”
“As a credit provider able to provide substantial additional capital to our fast-growing platforms, we look forward to continuing to build our relationship with JG Wentworth and to further supporting the Company in the expansion of its core lines of business,” said Tom Goila, a Partner of Comvest.
About JG Wentworth
JG Wentworth is a consumer financial services company powered by more than 550 employees across the country who are committed to delivering personalized financial solutions that meet the needs of everyday Americas. Current product offerings include structured settlement payment purchasing, annuity payment purchasing, lottery and casino payment purchasing, and debt resolution services. For more information, please visit: https://www.jgwentworth.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, 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. 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 $9.2 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.