WEST PALM BEACH, Fla., April 06, 2022 (GLOBE NEWSWIRE) -- Comvest Partners (“Comvest”), an operationally-focused middle-market private investment firm, is pleased to announce the sale of Encompass Supply Chain Solutions, Inc. (“Encompass”, or the “Company”) to Parts Town, a global market leader in genuine original equipment manufacturer (OEM) parts distribution and technology. Encompass had been a platform company in Comvest’s private equity portfolio since 2019. Financial terms of the transaction were not disclosed.
Headquartered near Atlanta, Encompass is among the nation’s leading suppliers of genuine repair parts for products in the home. Serving both the service trade and consumers, Encompass delivers access to more than eight million OEM replacement parts from over 200 top manufacturer brands across all major home product categories, including home appliance, consumer electronics, HVAC, computing, and personal care. Encompass also offers services in parts supply chain management, third-party logistics, depot repair, and reverse logistics. The Company maintains seven distribution facilities nationwide.
“Comvest has had a wonderful experience supporting Encompass’s CEO Robert Coolidge and his talented team during the Company’s substantial growth these past few years,” said Maneesh Chawla, a Senior Partner at Comvest. “Encompass further strengthened its performance through investment in strategically located facilities, inventory, relationships, and customer service innovations. We are excited for Encompass’s continued success in its next chapter with Parts Town.”
During its partnership with Comvest, Encompass increased its offering in all home categories, added to its significant network of strong manufacturer and dealer partnerships, expanded its national footprint, and advanced innovative technological and service solutions to its customers and vendor partners.
"Comvest’s investment and strategic guidance have been fundamental to our significant growth,” said Mr. Coolidge. “We successfully scaled the business and executed on key facility, operational and technological initiatives, including opening new distribution centers, automating management systems, and launching robust digital capabilities. We are excited to join the Parts Town family and work together to build an even bigger home-focused platform.”
Metronome Partners acted as financial advisor and Akerman LLP acted as legal advisor to Encompass.
About Encompass
Formed in 1953, Encompass is one of the country’s largest suppliers of repair parts and accessories for products throughout the home. Encompass also offers complete parts supply chain management, third-party logistics, depot repair and reverse logistics service. In addition to consumers, Encompass supports an array of business-to-business customers, including manufacturers, multi-family property management, warranty providers, service networks, independent dealers and retailers. For more information, please visit https://solutions.encompass.com
About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the United States. Since its founding in 2000, Comvest Partners has invested over $7.7 billion. Today, Comvest Partners has over $6.4 billion in 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 www.comvest.com
For more information, please contact:
Maneesh Chawla, Senior Partner, Comvest Partners – m.chawla@comvest.com
