Florida, USA-based leading provider of flexible direct financing solutions to middle-market companies, Comvest Credit Partners provided USD 153 million senior credit facility to Oak Dental Partners. The company announced the facility on May 01, 2023. The company acted as an administrative agent as well as the sole lender for Oak Dental Partners.

Purpose of financing by Comvest Credit Partners 

With the latest financing from Comvest, Oak Dental Partners seeks to refinance its existing debt.

It also has plans to support near-term acquisitions. Meanwhile, Comvest also has an equity co-investment in the business.

What the Oak Dental Partners’ official has to add

Lee Provow, CEO of Oak Dental, said, “Oak Dental has more than doubled our affiliated practices in the last two years. Comvest brings extensive healthcare investment experience in multi-site providers and understands the complexities of the DSO model. As a result, Comvest delivered a responsive and significant financing solution that sets the stage for Oak Dental to continue our accelerated pace of acquisitions and investment in our affiliated practices.”

Oak Dental Partners, launched in 2015, focuses on the acquisition and development of pediatric, family dental, as well as orthodontic practices located primarily in the Southeast. Oak Dental currently partners with 55 affiliated practices across nine states. Meanwhile, it provides a full suite of non-clinical business support services.\

What the Comvest Credit Partners official has to say

Dan Lee, a Partner at Comvest, further said, “Comvest continues to be an active and committed credit investor in proven, fast-growing healthcare companies. We are pleased to provide Oak Dental with a tailored financing solution that addresses the Company’s current needs and provides capital for its future growth initiatives.”

About Comvest Credit Partners 

Comvest Credit Partners is a direct lending platform of Comvest Partners. The company focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners offers senior secured, unitranche, and second lien capital to sponsored as well as non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. The Credit facilities typically range from USD 25 million to USD 250 million-plus for companies with revenues more than USD 20 million. 

In 2000, Founders Michael S. Falk and Robert L. Priddy launched Comvest Partners. Comvest Partners offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor.

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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