WEST PALM BEACH, Fla., Nov. 29, 2017 (GLOBE NEWSWIRE) -- Comvest Credit Partners has acted as Syndication Agent on the funding of a Senior Term Loan (the “Financing”) to CarbonLITE Industries, LLC. (“CarbonLITE” or the “Company”), the largest producer of FDA-approved, bottle-grade post-consumer recycled polyethylene terephthalate (“PET”) resins in the United States. CVC Credit Partners acted as Administrative Agent for the Financing.
“We are impressed with CarbonLITE’s value proposition and management team. The Company is well positioned in the industry with a proven track record in the recycling space. We look forward to working with CarbonLITE as they execute on their growth initiatives,” said Jason Gelberd, Partner at Comvest Credit Partners.
In addition, Comvest Partners has rebranded its direct lending investment strategy as Comvest Credit Partners. “We have made significant progress since launching our direct lending strategy in 2006. Our experience investing through credit cycles and our ability to cultivate relationships with intermediaries and private equity firms have allowed us to not only enhance our reputation in the market, but also grow Comvest Credit Partners’ AUM over time. Going forward, we believe our name change will more clearly reflect our investment strategy with our clients and partners,” noted Robert O’Sullivan, Managing Partner of Comvest Credit Partners.
About CarbonLITE:
CarbonLITE, founded in 2011, is the largest producer of FDA-approved, bottle-grade recycled PET resins in the US, providing recycled PET to major bottling corporations such as Nestle Waters and PepsiCo. In 2016, CarbonLITE acquired Pinnpack, a leading manufacturer of high-quality, food-grade, thermoformed PET packaged products. CarbonLITE is headquartered in Century City, California. For more information, please visit http://www.carbonliterecycling.com/ or http://www.pinnpack.com/.
About Comvest Credit Partners:
Comvest Credit Partners is the credit affiliate of Comvest Partners focused on providing flexible debt financing solutions to middle-market companies with offices in West Palm Beach, Chicago, Los Angeles, and New York. Comvest Credit Partners provides senior secured, unitranche, second lien, and mezzanine debt capital as well as equity co-investments for refinancings, growth capital, acquisitions, buyouts, and recapitalizations for sponsored and non-sponsored transactions. 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 capital to middle-market companies across the U.S. Since its founding in 2000, Comvest Partners has invested over $2.9 billion in over 155 companies. Today, Comvest Partners’ funds have $2.8 billion of assets under management. Through its extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit our website.
For more information:
Robert O’Sullivan, Comvest Credit Partners – (561) 727-1740, robert@comvest.com
Jason Gelberd, Comvest Credit Partners – (561) 727-1860, j.gelberd@comvest.com
Colleen Gurda, Comvest Credit Partners – (212) 829-5874, c.gurda@comvest.com