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 $117 million senior secured credit facility for ACT Entertainment, a portfolio company of investment firm BASE Equity Partners. The financing was used to refinance existing debt and support ACT Entertainment’s acquisitions of Spitfire Creative Technologies, a provider of audio and visual equipment and technology, and Ambersphere Solutions, a provider of professional lighting solutions.
“ACT Entertainment is uniquely differentiated and experiencing strong momentum in the live event and performance space, which is undergoing rapid growth in the post-pandemic environment,” Scott Soracoe, a managing director at Comvest, said. “We are pleased to provide a creative financing solution that will help ACT Entertainment achieve its growth objectives.”
“Comvest Credit Partners is dedicated to fostering strong relationships with a diverse borrower base that includes private equity sponsors, independent sponsors such as BASE and unsponsored companies,” Joe Higginbotham, a managing director at Comvest, said. “BASE has deep experience in the media and entertainment space and is also a long-term investor in ACT Entertainment. We look forward to our continued work together.”
“Throughout the transaction process, the Comvest team was responsive, patient and committed to developing a deep understanding of the business,” Ben Schneider, co-founder and managing partner of BASE, said. “The result was a tailored financing solution that supports ACT Entertainment’s immediate capital needs as well as its desired pace of future acquisitive growth.”
