Comvest Credit Partners, a provider of direct financing solutions to middle-market companies, is acting as administrative agent and 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. The financing will be used to refinance existing debt and support Billhighway’s acquisition of ChapterSpot, a provider of customer relationship management.
Founded in 1999, Billhighway provides an integrated software platform that helps multi-chapter member-based organizations improve efficiency through applications that span membership and event management, reporting and analytics, payment processing and invoicing.
“Billhighway is a niche market leader with a strong and loyal customer base. 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,” Brian Cercek, a managing director at Comvest Credit Partners, said.
“LMP shares Comvest’s investment focus in the software and technology services sector and brings a long history of successful transactions in that space. We look forward to working together in support of Billhighway’s growth,” Dan Lee, a partner at Comvest Credit Partners, said.
“Comvest has 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, a partner at Lovell Minnick Partners, said.
