West Palm Beach, FL., November 2013 – Comvest Partners, through its debt fund, Comvest Capital II LP (“Comvest”), provided $16.75 million in debt and equity capital to California Products Corporation (“CPC” or the “Company”), a producer of specialty surface products, in support of Delos Capital, LLC’s (“Delos”) acquisition of CPC.
“We are excited to have Comvest as a partner in CPC as we work with management to strengthen the Company’s market position,” said Delos founder Matt Constantino.
“Comvest understands our business and management’s vision to grow the business, we are pleased to have them as a lender and equity co-investor to the Company,” said Peter Longo, Chairman and Chief Executive Officer of CPC.
Jared Grigg, Principal at Comvest Partners, said, “We are fortunate to work with the outstanding executive team at CPC and hope this is the first of many transactions with Delos.”
About California Products Corporation:
CPC is a privately held Massachusetts-based manufacturer of water-based specialty chemical coatings used in consumer and industrial applications, including tennis court and track recreational coatings, high-end consumer paints and stains, and specialized environmental remediation coatings.
About Delos Capital, LLC:
Delos Capital, LLC, founded in 2013, invests opportunistically in North America-based lower middle-market companies in the Chemicals, Packaging, Industrials, and Consumer sectors. The Delos team has a long track record of success in executing complex transactions in these industries and employs a value-oriented sector-driven approach coupled with leveraging trends in the interrelated credit and equity markets.
About Comvest Partners:
Comvest Partners, with $1.1 billion of assets under management, provides flexible financing solutions to lower middle-market companies through its equity and debt funds, often meeting time-critical and complex funding requirements. Our firm includes seasoned, senior level operating executives who partner with managers and owners of companies to operationally improve businesses and create long-term value. Since 2000, Comvest has invested more than $1.7 billion of capital in over 120 public and private companies. Please visit www.comvest.com.
For more information:
Louis Colosimo, Comvest – (212) 829-5880, email@example.com
Jared Grigg, Comvest – (561) 727-1825, firstname.lastname@example.org