Comvest invests in ClearOne

Comvest Capital has provided $30 million in financing to ClearOne Advantage. Based in Baltimore, ClearOne is a debt resolution services provider.

PRESS RELEASE

West Palm Beach, FL – April 2017 – Comvest Partners, through its lending strategy, Comvest Capital (“Comvest”), has acted as administrative agent in a new $30.0 million senior secured credit facility for ClearOne Advantage (“ClearOne” or the “Company”), a debt resolution services provider. The financing was used to repay existing debt and fund ongoing working capital needs.

“We are excited to partner with Comvest as we position our Company for our next stage of growth. The new credit facility will provide us with the capital necessary to assist highly levered consumers to become debt-free,” said Tomas Gordon, CEO of ClearOne.

“We are pleased to partner with ClearOne. The Company has a strong reputation in the industry, and we look forward to continuing to work with management to support their strategic growth initiatives,” said Greg Reynolds, Partner at Comvest.

About ClearOne Advantage
ClearOne Advantage, founded in 2008 and headquartered in Baltimore, Maryland, is a provider of success fee-based debt resolution services. For more information, please visit their website www.clearoneadvantage.com.

About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the U.S. Since its founding in 2000, the firm has invested $2.6 billion in over 145 companies. Today, Comvest’s funds have $2.5 billion of assets under management. Through its extensive capital resources and broad network of industry relationships, Comvest offers companies financial sponsorship, critical strategic and operational support, and business development assistance.