WEST PALM BEACH, Fla., Jan. 17, 2018 (GLOBE NEWSWIRE) -- Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Lender in providing an $83.0 million Senior Credit Facility (the “Financing”) to Minute Key Inc. (“minuteKEY” or the “Company”), a portfolio company of Matrix Partners and Serent Capital. The Company is the world's first and largest network of self-service kiosks for accurate key duplication.
“We are excited to partner with Comvest as we position our Company for our next stage of growth. The Comvest investment will provide us with the capital necessary to continue to expand through the rollout of our V3 kiosks to retailers across the United States and Canada,” said Randy Fagundo, CEO of minuteKEY.
“We are impressed with minuteKEY’s value proposition and proven management team. Retailers and customers trust the company as the best performing kiosks in the market, and. we look forward to working with minuteKEY as they continue to execute on their growth initiatives,” said Greg Reynolds, Partner at Comvest.
Lincoln International acted as exclusive financial advisor to minuteKEY, helping to arrange and negotiate the capital raise.
About minuteKEY:
Founded in 2010, minuteKEY is the world's first and largest network of self-service kiosks for accurate key duplication. The Company’s 3,500+ kiosks are deployed across a base of blue chip retail partners, such as Walmart, Lowe’s, Menards, Kroger and Meijer, among others. For more information, please visit their website https://www.minutekey.com/.
About Comvest Credit Partners:
Comvest Credit Partners is the credit affiliate of Comvest Partners focused on providing flexible financing solutions to middle-market companies with offices in West Palm Beach, Chicago, Los Angeles, and New York. 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 $15 million to $100 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 $2.9 billion in over 155 companies. Today, Comvest’s funds have $2.8 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.
For more information:
Greg Reynolds, Comvest Credit Partners – (312) 637-8444, g.reynolds@comvest.com
Ashley Rainwater, Comvest Partners – (561) 727-2073, a.rainwater@comvest.com