Comvest Credit Partners, a provider of direct financing solutions to middle-market companies, is acting as administrative agent on a senior secured credit facility for Senior Helpers, a Towson, MD-based provider of home care and wellness offerings for seniors. The company used the financing to support the acquisition of Senior Helpers by private equity firm Waud Capital Partners. The funding also provides committed capital for Senior Helpers’ future growth initiatives.
Founded in 2002, Senior Helpers operates through more than 380 franchised and corporate-owned locations in 44 states, Canada and Australia, providing non-medical personal care services for seniors. Senior Helpers’ services range from grocery shopping to medication reminders, transportation, companionship and programs for chronic diseases such as Alzheimer’s and Parkinson’s.
“Senior Helpers is a premier and scalable brand that has achieved a long track record of consistent growth in an attractive segment of the home healthcare market,” Bryce Peterson, a managing director at Comvest and Co-Head of the firm’s direct lending strategy’s healthcare sector, said. “Comvest remains committed to investing in the healthcare sector and to providing responsive financing solutions that help well-positioned providers achieve their strategic goals.”
“Senior Helpers marks Comvest’s third successful transaction with Waud Capital, a sponsor with deep investment experience in the home healthcare space,” Joe Higginbotham, a managing director at Comvest, said. “We look forward to working with the Waud Capital team to support Senior Helpers’ continued growth.”
“Comvest has consistently delivered sizable financing commitments with speed, efficiency and a collaborative approach,” Matt Albers, a partner at Waud Capital, said. “We look forward to capitalizing on opportunities to help Senior Helpers expand its best-in-class suite of senior services in the next phase of the company’s growth.”
