WEST PALM BEACH, Fla., June 15, 2018 (GLOBE NEWSWIRE) — Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and sole lender for the amendment and restatement of the existing senior secured credit facility (the “Facility”) for ClearOne Advantage (“ClearOne” or the “Company”), a debt resolution services provider. The Facility was increased to $60.0 million and will be used to fund ongoing working capital needs.
“We appreciate Comvest’s continued support as we grow our business. Comvest remains a strong partner for us with a deep understanding of our business,” said Tomas Gordon, Chief Executive Officer of ClearOne.
“We are excited to grow our partnership with ClearOne as they execute on their growth initiatives,” said Tim Kim, Vice President at Comvest.
About ClearOne Advantage:
ClearOne Advantage, founded in 2008 and headquartered in Baltimore, Maryland, is a provider of success fee-based debt resolution services. For more information, please visit their website www.clearoneadvantage.com.
About Comvest Credit Partners:
Comvest Credit Partners 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 $3.3 billion in over 165 companies. Today, Comvest’s funds have $3.1 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.