Comvest Credit Partners, the direct lending platform of Comvest Partners, a middle-market private equity and credit investment firm, is acting as administrative agent and is the sole lender on a senior secured credit facility for Billhighway, a Troy, MI-based provider of finance management technology solutions for fraternal organizations and associations, and private equity firm Lovell Minnick Partners (LMP). The financing will be used to refinance existing debt and support Billhighway’s acquisition of ChapterSpot, a provider of customer relationship management.
“Billhighway is a niche market leader with a strong and loyal customer base,” Brian Cercek, a managing director at Comvest, said. “We are pleased to provide a tailored facility to support the scaling of the Company through the acquisition of a leading provider of complementary technology services to the same market.”
“LMP shares Comvest Credit Partners’ investment focus in the software and technology services sector and brings a long history of successful transactions in that space,” Dan Lee, a partner of Comvest, said. “We look forward to working together in support of Billhighway’s growth.”
“Comvest has a long track record of supporting high-growth software and payments businesses, and we are excited to partner with the Comvest team in support of Billhighway’s continued growth strategy,” Trevor Rich, partner at LMP, said.
