Comvest Credit Partners, a provider of flexible direct financing solutions to middle-market companies, is acting as administrative agent and is the sole lender on a $70 million senior secured credit facility for Nationwide Energy Partners (NEP), an Ohio-based provider of utility management services to the multifamily market. The financing will be used to retire existing debt and support new strategic initiatives.
“Comvest continues to focus on investing in well-positioned providers of critical infrastructure services,” Chris O’Donnell, a manager director at Comvest, said. “NEP has built a strong reputation and achieved a long track record of growth as a leading regional provider of sustainable energy solutions to the multifamily sector. Our collaborative process with the leadership team resulted in a flexible facility that provides immediate and follow-on funding to support NEP’s key strategic projects.”
“Comvest displayed creativity and diligence in navigating the complex energy market to deliver a financing package structured to help NEP execute our growth strategy more quickly and efficiently,” Timothy J. (T.J.) Harper, president of NEP, said. “In addition, Comvest’s ability to increase the size of the facility over time was a key factor in our choice of provider. This relationship enables NEP to continue providing exceptional energy management services to our current multifamily partners while further expanding in new and existing markets across the United States.”
