WEST PALM BEACH, Fla., Jan. 17, 2019 (GLOBE NEWSWIRE) -- Comvest Credit Partners is pleased to announce the refinancing of senior credit facilities for SMART Financial, an operator of over 60 pawn stores across the United States and Canada. The refinancing, which consists of a new $80.0 million senior credit facility, was led by Comvest, who is also acting as Administrative Agent. Smart will use the proceeds of the new facility to refinance existing debt and fund anticipated growth.
“Comvest has proven to be an outstanding financing partner. We look forward to working closely with Comvest as we execute on our growth initiatives,” said John Thedford, founder of Smart.
“The Smart management team has built an impressive platform over the last few years, and we look forward to further supporting their growth initiatives,” said Jason Gelberd, Partner at Comvest.
About SMART Financial:
SMART Financial operates a platform of over 60 pawn stores across the United States and Canada.
About Comvest Credit Partners:
Comvest Credit Partners, through affiliated private funds, focuses on providing flexible financing solutions to middle-market companies. We provide senior secured, unitranche, second lien, and mezzanine capital as well as equity co-investments. We lend to sponsored and non-sponsored companies, in support of refinancings, growth capital, acquisitions, buyouts, and recapitalizations. Credit facilities typically range from $20 million to $200 million for companies with revenues greater than $15 million. For more information, please visit our 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 $3.9 billion in over 180 companies. Today, Comvest’s funds have $3.3 billion of assets under management. Through our extensive capital resources and broad network of industry relationships, we offer our companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit our website.
