Comvest Partners, a leading middle-market private equity and credit investment firm, is pleased to announce that its direct lending platform, Comvest Credit Partners, is acting as Administrative Agent on a senior secured credit facility (the “Financing”) for Senior Support Holdings (Franchise) Acquisition, Inc. (“Senior Helpers”), a Towson, Md.-based national leader in home care and wellness offerings for seniors. The Financing was used to support the acquisition of Senior Helpers by private equity firm Waud Capital Partners (“Waud Capital”). 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 that enhance seniors' ability to avoid or delay the need for inpatient care. 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 health care market,” said Bryce Peterson, a Managing Director at Comvest and Co-Head of the direct lending strategy’s Healthcare sector. “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 Credit Partners’ third successful transaction with Waud Capital, a sponsor with deep investment experience in the home health care space,” said Joe Higginbotham, a Managing Director at Comvest. “We look forward to working with the Waud Capital team to support Senior Helpers’ continued growth.”
Matt Albers, a Partner of Waud Capital, added, “Comvest has consistently delivered sizable financing commitments with speed, efficiency, and a collaborative approach. 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.”
About Senior Helpers
Senior Helpers is one of the nation's premier providers of in-home senior services ranging from specialized care for those with diseases, such as dementia, Alzheimer's, and Parkinson's, to personal and companion care to help individuals looking for a little assistance with daily activities. Founded in 2002 with a vision to help seniors age with dignity despite age-related illnesses and mobility challenges, Senior Helpers has hundreds of franchised and owned businesses that have cared for tens of thousands of seniors. For more information, visit www.seniorhelpers.com.
About Waud Capital Partners
Based in Chicago, Waud Capital Partners is a growth-oriented private equity firm with over 30 years of investing experience. Waud Capital seeks to partner with experienced management teams to build market-leading companies within two industries: software & technology and healthcare. Since its founding in 1993, Waud Capital has successfully completed more than 460 investments, including platform companies and follow-on opportunities. For additional information on Waud Capital, please visit www.waudcapital.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, with credit facilities up to $250 million-plus. 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 $10.9 billion in assets, and has invested over $12.8 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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“Comvest remains committed to investing in the healthcare sector, and to providing responsive financing solutions that help well-positioned providers achieve their strategic goals,” said Bryce Peterson, a Managing Director at Comvest.
Contacts
Bryce Peterson, Managing Director, Co-Head of Healthcare, Comvest Credit Partners – b.peterson@comvest.com
Joe Higginbotham, Managing Director, Comvest Credit Partners – j.higginbotham@comvest.com
