Comvest Credit Partners Provides $165 Million Senior Credit Facility to Diesco Industries to Support Strategic Growth

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Comvest Credit Partners (“Comvest Credit”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent and is the sole lender on a $165 million senior secured credit facility (the “Financing”) for Diesco Industries (“Diesco”, or the “Company”). The Financing will be used to refinance Diesco’s existing debt while providing flexibility for its continued growth and expansion.

Diesco is a family-owned leading beverage and integrated packaging and bottler producer based in the Dominican Republic with significant presence across Latin America. The Company owns and operates vertically integrated manufacturing companies of non-alcoholic beverage products and lightweight packaging, managing a portfolio that encompasses branded and private label products across multiple categories including bottled water, carbonated drinks, caps, and bottles. Diesco serves food and beverage end markets, with operations in Puerto Rico, Dominican Republic, and Colombia.

“Comvest Credit is committed to providing responsive credit financing solutions directly to well-positioned market leaders within our industries of focus,” said Tom Goila, Partner, at Comvest Credit. “Diesco is a top producer of diverse and growing beverage and packaging brands in the Caribbean. We are pleased to provide a flexible facility that addresses the Company’s strategic goals.”

“Comvest Credit was able to serve as the single-source provider of the facility size we sought to support our business objectives,” said Manuel Diez, Diesco’s Founder and CEO. “In addition to its capital support, the team ran an efficient process and got the deal done on an extremely aggressive timeline, which put us in excellent position to execute our strategic plan as we start the new year. As always, we remain committed to innovation, high-end performance and meeting evolving consumer needs.”

About Diesco Industries

Diesco Industries is the industrial business unit of Alyon, a regional conglomerate with over six decades of existence and diversified in multiple sectors, such as packaging production, beverage bottling, real estate development and Investment management. For more information, please visit www.diesco.com and www.alyon.com.

About Comvest Credit Partners

Comvest Credit Partners (“Comvest Credit”), the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $300 million-plus. For more information, please visit comvest.com/direct-lending.

About Comvest Partners

Comvest Partners (“Comvest”) is a 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 along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages $15.3 billion in assets, and has invested over $14.4 billion since inception. Comvest is based in West Palm Beach, with offices in Chicago and New York City. For more information, please visit comvest.com.