WEST PALM BEACH, Fla., March 09, 2022 (GLOBE NEWSWIRE) -- Comvest Credit Partners (“Comvest”), a leading provider of flexible financing solutions to middle-market companies, is pleased to announce that it has acted as Administrative Agent in providing a senior secured credit facility (the “Financing”) to Another Broken Egg (or the “Company”), an Orlando, Fla.-based restaurant operator and franchisor of full-service daytime-only cafes. The Financing was used to support a dividend recapitalization and future growth of the Company by The Beekman Group.
Founded in 1996, Another Broken Egg has become one of the leading daytime restaurant concepts in the fast-growing upscale breakfast category, managing 80 company-owned and franchised Another Broken Egg Cafe locations in 15 states nationwide, with 20 new locations in various stages of development. The chain offers innovative menus of southern-inspired dishes, from breakfast classics to brunch specialties, and warm hospitality.
“Comvest has remained actively focused on the restaurant vertical through all market cycles,” said Nick McClelland, Managing Director, at Comvest. “We are excited to deepen our commitment to the casual dining segment, specifically to full-service daytime dining.”
“This transaction underscores Comvest’s deep capabilities and expertise in structuring creative debt solutions to help fast-growing restaurant operator-franchisors like Another Broken Egg accelerate their expansion,” said Dan Lee, Partner, at Comvest. “We look forward to further developing our relationship with The Beekman Group in support of Another Broken Egg’s continued growth.”
Another Broken Egg was named Breakout Franchise Brand of the Year in 2020 by FSR Magazine, which covers the full-service restaurant industry.
About Another Broken Egg:
Another Broken Egg is an upscale breakfast, brunch and lunch restaurant that specializes in award-winning, Southern-inspired menu options with innovative twists and signature cocktails. For more information, please visit www.anotherbrokenegg.com
About The Beekman Group:
The Beekman Group is a private equity firm, based in New York City, focused on building industry-leading companies in the healthcare, consumer, and business services sectors. The firm partners with management teams who desire to be significant owners and create meaningful value by accelerating organic and acquisition growth initiatives. Beekman manages over $1 billion in assets and has completed over 130 transactions since inception. For more information, please visit www.thebeekmangroup.com
About Comvest Credit Partners:
Comvest Credit Partners focuses on providing flexible financing solutions to middle-market companies. Comvest provides senior secured, unitranche, second lien, and mezzanine capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $250 million-plus for companies with revenues greater than $20 million. Comvest has offices located in West Palm Beach, Chicago and New York. For more information, please visit www.comvest.com/direct-lending
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 has invested over $7.7 billion. Today, Comvest has over $6.4 billion of assets under management. Through extensive capital resources and a 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 www.comvest.com
For more information, please contact:
Dan Lee, Partner, Comvest Credit Partners – D.Lee@comvest.com
Nick McClelland, Managing Director, Comvest Credit Partners – N.Mcclelland@comvest.com
