Comvest Credit Partners Upsizes and Amends Senior Credit Facility for Purchasing Power to Support Growth

Purchasing Power provides voluntary employee payroll deduction programs for the purchase of consumer goods and services, serving a nationwide customer base of Fortune 500 companies, associations, government agencies and other large businesses. Purchasing Power’s employee offering includes thousands of leading brands across a range of product categories such as electronics, computers, furniture, and appliances along with financial literacy tools and financial wellness resources such as one-on-one financial coaching.

“Purchasing Power is a market leader in the voluntary benefits and e-commerce industries with more than two decades of proven financial performance, strong customer retention and consistent customer growth,” said Jason Gelberd, Partner, Chief Operating Officer and Co-Head of Direct Lending at Comvest. “Comvest is pleased to have served as Purchasing Power’s primary credit financing provider since 2016. Amending and upsizing the Purchasing Power credit facility reflects our belief in the company’s continued growth and in its sponsor, Flexpoint Ford.”

“Comvest Credit Partners has been a responsive provider of creative credit solutions,” said Ron Oertell, the Chief Financial Officer of Purchasing Power. “The Comvest team has provided flexible support through a range of market conditions over the past eight years along with increasing facility sizes to support the growth of our business during an exciting period of expansion and innovation.”

About Purchasing Power

Purchasing Power is an Atlanta-based voluntary benefit company celebrating more than 20 years as the leading employee purchase program for consumer products and services through payroll deduction. Helping employees achieve financial flexibility, Purchasing Power is available to millions of people through large companies including Fortune 500s, associations and government agencies. For more information, visit https://corp.purchasingpower.com

About Flexpoint Ford

Flexpoint Ford is a private equity investment firm that has approximately $8.2 billion of regulatory assets under management and specializes in privately negotiated investments in the financial services and healthcare industries. Since the firm's formation in 2005, Flexpoint Ford has completed investments across a broad range of investment sizes, structures, and asset classes. Flexpoint Ford has offices in Chicago, Illinois, and New York, New York. For more information, visit: www.flexpointford.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, with credit facilities up to $300 million-plus. For more information, please visit comvest.com/direct-lending.

About Comvest Partners

Comvest Partners 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 $12.5 billion in assets, and has invested over $13.5 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York City. For more information, please visit comvest.com.

Contacts

Jason Gelberd, Partner, Chief Operating Officer and Co-Head of Direct Lending, Comvest Credit Partners – j.gelberd@comvest.com
Scott Soracoe, Managing Director, Comvest Credit Partners – s.soracoe@comvest.com