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WEST PALM BEACH, Fla., Oct. 15, 2019 (GLOBE NEWSWIRE) -- Comvest Credit Partners (“Comvest”) acted as Administrative Agent and Joint Lead Arranger in a senior credit facility (the “Financing”) to support New State Capital Partners’ (“New State”) recapitalization of Global Holdings Acquisition, LLC. (“Global Holdings” or the “Company”).
“Comvest has proven to be a great lending partner with deep expertise in the debt settlement industry,” said John Beauclair, Senior Principal at New State.
“As an existing lender to the Company since 2018, we are pleased to expand our relationship with the Company and New State. Global Holdings continues to emphasize the importance of client relations, which has resulted in high levels of recurring revenue and long-standing relationships with its customers,” said Tim Kim, Vice President at Comvest.
Global Holdings, founded in 2003, is the leading dedicated account and payment processing provider to the consumer debt settlement industry, serving each of the leading consumer debt settlement businesses in the United States. For more information, please visit their website.
About New State Capital Partners:
New State Capital Partners LLC is an entrepreneurial-minded private equity firm that strives to be more nimble, more decisive and more cooperative than larger, institutional firms. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships, rather than as an exercise in meeting rigid investing criteria. The firm is very flexible about the structure of its investment and focuses on growth and add-on investment. New State seeks to invest in market-leading companies with $8 million to $30 million of EBITDA in the areas of business services, industrials, consumer, and healthcare services. New State can commit more than $50 million of equity capital per transaction through New State Capital Partners II, LP. New State and its affiliates have invested in 22 companies to date. For more information visit website.
About Comvest Credit Partners:
Comvest focuses on providing flexible financing solutions to middle-market companies. Comvest 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 $200 million for companies with revenues greater than $20 million. Comvest has offices located in West Palm Beach, Chicago, Los Angeles and New York. For more information, please visit the website.
About Comvest Partners:
Comvest Partners is a private investment firm providing equity and debt to middle-market companies across the U.S. Since its founding in 2000, Comvest has invested over $4.5 billion. Today, Comvest Partner’s funds have over $3.3 billion of assets under management. Through an extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit the website.