WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent and Sole Lender on a $220 million senior secured credit facility (the “Financing”) to Above Lending (the “Company”), a Houston-based national provider of consumer loans that has been part of Comvest’s Direct Lending portfolio since 2021. The Financing, Comvest’s second upsize, will be used toward Above Lending’s ongoing operations and continued growth.
Above Lending focuses on debt settlement and debt consolidation programs that help individuals successfully pay off debt. Comvest followed its initial $50 million investment in the Company in 2021 with a $75 million upsize in 2022 and the recent $95 million additional follow-on commitment.
“Above Lending is a strong performer within the specialty finance sector,” said Tim Kim, a Managing Director of Comvest and head of the Specialty Finance group. “Comvest continues to actively invest in well-positioned specialty finance companies and remains committed to providing meaningful add-on capital that supports the strategic growth objectives of our investments.”
About Above Lending
Above Lending is a consumer lending company that provides debt consolidation loan programs to eligible consumers. For more information, visit www.abovelending.com.
About Comvest Credit Partners
Comvest Credit Partners, the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $250 million-plus for companies with revenues greater than $20 million. For more information, please visit www.comvest.com/direct-lending.
About Comvest Partners
Comvest Partners is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $8.9 billion in assets, and has invested over $9.9 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visit www.comvest.com.