West Palm Beach, Florida, September 2007 – The ComVest Group, through its Non-Control Fund, ComVest Capital, LLC, has provided an $8.0 Million revolver and term loan to Groupware International Inc. (“Groupware”), a leading cable installation contractor. The proceeds from the transaction will be used to repay debt and expand services into new markets. The transaction will position Groupware to increase its market share in an industry that has been highly fragmented. The Company places an emphasis on quality technicians and outstanding service.
Groupware is a specialty contractor operating in Florida, North Carolina (Fayetteville) and Colorado (Denver). The Company’s core activities include the installation of cable, high speed data (HSD) and telephony products for multiple system operators. Groupware’s customers rely on the Company to install equipment for residential and commercial customers that is critical to their delivery of voice, video and data communications. Customers include Comcast, Bright House and Time Warner.
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.