West Palm Beach, Florida, September 2007 – The ComVest Group, through its Non-Control Fund, ComVest Capital, LLC, has provided a $15 Million revolving line of credit to Western Forge Corporation, a wholly owned subsidiary of MW Universal Inc. which manufactures popular brand hand tools including Craftsman and Snap On. The proceeds from the transaction will be used to fund acquisitions and for working capital purposes.
About MW Universal
MW Universal was created by George S. Hofmeister in 2005 to roll up niche metal working companies in the US and abroad. To date, MW Universal has acquired seven companies. Key customers include Honda, Boeing, Lockheed Martin, Harley Davidson, Arvin Meritor, Bell Helicopter, Freightliner, ATK, Ryco Engineering, and Hayden. More information and a description of subsidiaries can be found online at www.mwuniversal.com.
The ComVest Group is a leading Private Equity firm focused on investing in middle-market companies. Since 1988 ComVest has invested more than $2 billion of capital in over 200 public and private companies worldwide. Through our extensive financial resources and broad network of industry experts, we are able to offer our companies total financial sponsorship, critical strategic support, and business development assistance. Our focus is centered on building industry leading companies and creating long term value for equity holders. For more information on ComVest, visit www.comvest.com.