WEST PALM BEACH, Fla., April 10, 2019 (GLOBE NEWSWIRE) -- Comvest Credit Partners (“Comvest”) has acted as Administrative Agent in providing a $110.0 million senior secured credit facility (the “Financing”) to Spring Venture Group and affiliates (the “Company”), an insurance brokerage and consulting services provider primarily in the Medicare supplement market.
“Comvest has proven to be a great partner and has supported our growth over the past four years. We are excited to extend our relationship with Comvest as we continue to execute on our growth strategy,” said Chris Giuliani, Chief Executive Officer.
“We are very pleased to partner with the team at Spring Venture Group once again as they continue to make strides in the industry as one of the leading insurance brokers in the Medicare space,” said Jason Gelberd, Partner and Co-Head of Direct Lending at Comvest Credit Partners.
About Spring Venture Group, LLC
Spring Venture Group is a leading digital direct-to-consumer sales and marketing company with product offerings focused on the senior market. Founded in 2009, the Company specializes in distributing Medicare Supplement, Medicare Advantage, and related products via its digital presence and dedicated team of insurance advisors. Spring has developed a highly-differentiated technology platform that combines sophisticated marketing, lead generation, comparison shopping, sales execution, and post-enrollment customer engagement to create an invaluable channel for its insurance carrier partners. Spring’s deep senior market expertise and technology-enriched sales approach are complemented by its data-driven operational and workflow insight. The Company employs over 650 professionals and is headquartered in Kansas City, Missouri. To Learn more about Spring Venture Group careers visit www.springventuregroup.com
About Comvest Credit Partners:
Comvest Credit Partners, through affiliated private funds, 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 $4.1 billion in over 185 companies. Today, Comvest’s funds have over $3.3 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:
Comvest
Jason Gelberd, Comvest – 561-727-1860, j.gelberd@comvest.com
Tim Kim, Comvest – 312-637-8448, t.kim@comvest.com
Spring Venture Group
Matt Lowe – 773-266-8889, matt.lowe@springventuregroup.com