Purchasing Power secured $218 million in a senior credit facility upsized by Comvest Credit Partners to refinance existing debt and support growth.

Oct 15, 2024•about 1 year ago

Amount Raised

$218 Million

West Palm BeachFinancial Services

Investors

Flexpoint FordComvest Credit Partners

Description

Comvest Credit Partners acted as Administrative Agent in an upsized $218 million senior secured credit facility for Purchasing Power to refinance existing debt, provide a dividend to investors, and support continued business growth. This marks the third upsize Comvest has facilitated for the company since 2016.

Company Information

Company

Purchasing Power

Location

2727 Paces Ferry Rd SE

West Palm Beach, Florida, United States

About

In addition, the firm manages a multi-PM equity market-neutral hedge fund and provides beta and hedging solutions for institutional clients. The company maintains affiliate offices in New York, London, Toronto and Tokyo. “The flexible financing structure enables Purchasing Power to continue to expand its core product offering, invest in new solutions for its customers and have undrawn capital in reserve,” said Ron Oertell, CFO of Purchasing Power. “Purchasing Power is a proven market leader whose history and extensive roster of corporate relationships coupled with its catalogue offering provide financial flexibility for employees and serve as a valuable benefits offering for employers,” said Jason Gelberd, Partner, Co-Head of Direct Lending, at Comvest. Helping employees achieve financial flexibility, Purchasing Power is available to millions of people through large companies including Fortune 500s, associations and government agencies.

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