Comvest Partners, through its lending platform, Comvest Capital, has provided a $21,500,000 term loan facility with additional availability of $10,000,000 to Universal Marine Medical Supply International, LLC (“Universal”). Based in Manhattan and Staten Island, NY, with operational hubs in Florida, the United Kingdom and Greece, Universal is one of the oldest global suppliers of medical and pharmaceutical supplies to the maritime industry. The Comvest credit facility was utilized to recapitalize the previous buyout of the founding shareholder and to position Universal for future growth.
“We are very excited about our partnership with Comvest.” said Drew Schaefer, Chairman and co-CEO of Universal. “The facility allows us maximum flexibility to address our growing international organization.”
“Universal is a well positioned business serving the specialized needs of the maritime industry,” said Greg Reynolds, Managing Director, Comvest Partners. “We are pleased to partner with Universal’s experienced and talented management team to accelerate the growth of their business”.
Universal was advised on this transaction by The Seaport Group (“Seaport”).
Carnegie Hudson Resources, LLC acted as the Sponsor of Universal.
Founded in 1976 and headquartered in Manhattan and Staten Island, NY, Universal Marine Supply International, LLC is one of the oldest global providers of medical and pharmaceutical supplies to the maritime industry. The Company is capable of meeting its customers global supply chain needs by delivering to its customers on a global basis. For more information about Universal, please visit: www.universalmarinemedical.com.
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 fundings requirements. Our firm includes seasoned, senior level operation 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. For more information about Comvest please visit: www.comvest.com.
About The Seaport Group:
Founded in 2001, the Seaport Group has grown to approximately 200 professionals covering over a dozen businesses and product lines. Executing over $40 Billion of average annual credit-related transactions volume in the last three years, New York based Seaport Group has emerged as a leader in global credit markets with one of the largest sales and trading platforms of any boutique investment bank. Seaport’s unique model provides clients with access to an integrated firm of experienced market specialists helping clients manage risk and create value. For more information about Seaport please visit: www.theseaportgroup.com.
About Carnegie Hudson Resources:
Headquartered in Manhattan, Carnegie Hudson Resources(“CHR”) is a private equity investment, strategic and financial advisory firm. CHR’s private equity focus is on the energy sector. Additionally, CHR provides direct financing solutions to small and middle market companies, both public and private, across a diverse range of industries.