Comvest Credit Partners Announces Investment in Cardiovascular Logistics
Comvest Credit Partners ("Comvest"), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it has acted as Joint Lead Arranger on a senior secured credit facility (the "Financing") for Cardiovascular Logistics (the "Company"), a new national cardiovascular services platform. The Financing supported the formation of the Company by private equity firm Lee Equity Partners through the acquisition of Cardiovascular Institute of the South ("CIS"), one of the country's largest independent cardiovascular practices. The Financing will also support the platform's organic and inorganic growth.
Founded in 1983, CIS operates 21 locations in Louisiana and Mississippi and has a global reputation for clinical excellence and innovation. CIS offers a comprehensive heart and vascular program across numerous specialties, including internal medicine, nuclear cardiology, electrophysiology, coronary artery disease, peripheral vascular disease, and interventional procedures.
"Cardiovascular Logistics is an attractive physician practice management platform benefitting from favorable industry and demand dynamics as well as CIS's history of clinical excellence. Comvest is excited to support Lee Equity Partners' objective of growing the platform into the nation's leading outpatient cardiovascular provider," said Bryce Peterson, a Managing Director at Comvest and Co-Head of the Healthcare group. "Comvest leveraged our deep firm expertise investing in other leading physician practice management platforms in adjacent healthcare specialties. We structured a significant and highly flexible financing solution to support Lee Equity Partners' initial acquisition and provide committed ongoing capital to support the Company in building a network of cardiology practices."
"Comvest is excited to work with Lee Equity Partners on another meaningful transaction involving a leading multi-site healthcare provider," said Tom Goila, a Partner of Comvest and Co-Head of the Healthcare group. "We look forward to further building our relationship with the Lee Equity Partners team and to supporting Cardiovascular Logistics as the Company continues to scale its footprint, practices, care teams, and technologies."
About Cardiovascular Logistics
Cardiovascular Logistics is the most comprehensive cardiovascular platform in the country, providing the logistics to integrate the nation's best cardiology practices into one robust cardiovascular solution. For more information, visit www.cardiovascularlogistics.com.
About Cardiovascular Institute of the South
Founded by Dr. Craig Walker in 1983, Cardiovascular Institute of the South is a world-leader in preventing, detecting and treating cardiovascular and peripheral vascular disease and remains at the forefront of technology, providing the highest-quality, compassionate care. For more information, visit www.cardio.com.
About Lee Equity Partners
Lee Equity Partners is a New York-based private equity firm that partners with successful management teams to build companies with strong growth potential. Lee Equity targets equity investments of $50 million to $150 million in middle-market control buyouts and growth capital financings in companies with enterprise values of $100 million to $500 million that are located primarily in the United States. The firm invests within three distinct sectors, healthcare services, financial services, and business services, where the team has developed deep relationships over decades. For more information, visit www.leeequity.com.
About Comvest Credit Partners
Comvest Credit Partners, the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $250 million-plus for companies with revenues greater than $20 million. For more information, please visit www.comvest.com/direct-lending.
About Comvest Partners
Comvest Partners is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $8.9 billion in assets, and has invested over $9.9 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visit www.comvest.com.
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