Manulife | Comvest Credit Partners, the private credit platform of Manulife Wealth & Asset Management, is acting as administrative agent and sole lender on a $130 million senior secured credit facility for the Sylmar Group. The investment refinances the company’s prior credit facility and supports its ongoing growth strategy, including a recent acquisition, and provides capital for future acquisitive expansion.
“Sylmar is a fast-growing leader in industrial water services, delivering critical solutions that support regulatory compliance and operational reliability,” Jack Wyatt, a managing director at Manulife | Comvest Credit Partners, said. “We are pleased to support Sylmar with a flexible capital solution to help advance its immediate needs and long-term, acquisition-driven growth. This transaction exemplifies our experience in structuring creative financing for companies in complex, essential industries.”
Scott Soracoe, a managing director and co-head of industrials at Manulife | Comvest Credit Partners, added, “This transaction aligns with our credit strategy focused on investing in well-positioned middle-market companies across targeted sectors, including attractive niche industrial subsectors with durable, recurring customer demand, and we have built meaningful experience as a lender in the water services segment.”
Peter Brooks, CEO of Sylmar, said, “Our mission at Sylmar is to build the future of water. Over the last five years, we have grown to a size and scale where we needed a trusted, long-term credit capital partner to help us deliver for our customers and our dedicated team of water professionals. Manulife | Comvest Credit Partners has the knowledge of our industry, flexibility on structure and tailored strategies to help us meet our growth goals. We’re excited to continue growing together.”
