Comvest Credit Partners, a pioneer in offering mid-market companies adaptable direct financing options, has announced that it would serve as both the Administrative Agent and the Sole Lender in a senior secured credit facility for Billhighway.
Comvest Credit Partners, a pioneer in offering mid-market companies adaptable direct financing options, has announced that it would serve as both the Administrative Agent and the Sole Lender in a senior secured credit facility for Billhighway.
Together with the private equity firm Lovell Minnick Partners, this financing aims to refinance existing debt and support Billhighway's acquisition strategy, specifically the acquisition of CRM provider ChapterSpot. The company specializes in financial management technology solutions for fraternal organizations and associations.
Billhighway has become a market leader since its founding in 1999, especially for member-based organizations with several chapters. It provides a comprehensive software platform that improves productivity in a number of areas, such as invoicing and payment processing, event and membership management, reporting, and analytics.
Comvest Managing Director Brian Cercek praised Billhighway's industry leadership and loyal customer base while expressing his joy in supporting the company. In order to support the company's expansion through calculated acquisitions like ChapterSpot, which provides complementary technology offerings to the same market area, he emphasized the need of the customized facility.
In addition to providing SaaS-based member administration, accounting, and transaction processing services specifically designed for Fraternities and Sororities, Associations, and Labor Unions, Billhighway is renowned for providing complete software and payment solutions to the non-profit sector.
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