Comvest Credit Partners has provided a $45 million loan to HOP Energy, a portfolio company of Delos Capital. Based in White Plains, New York, HOP Energy is a specialty distributor of heating oil, propane and other petroleum products and related services to homeowners and small businesses in the Mid-Atlantic and Northeast regions of the U.S.
West Palm Beach, FL – (November 14, 2019) – Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Sole Lender in providing a $45.0 million senior secured term loan (the “Financing”) to HOP Energy, LLC (“HOP Energy”), a portfolio company of Delos Capital.
“We are pleased to be partnering with Comvest for this important Financing. Comvest not only has a deep understanding of our industry, but also the value proposition of HOP Energy,” said Michael Anton, CEO of HOP Energy.
“HOP Energy continues to excel at customer service by providing 24/7 support across the Northeast United States. We look forward to supporting HOP Energy as it continues to build on its over 20 year history providing heating solutions to its longstanding customer base,” said Colleen Gurda, Senior Vice President at Comvest.
About HOP Energy, LLC:
Based in White Plains, NY, HOP Energy, LLC is a specialty distributor of heating oil, propane and other petroleum products and related services to homeowners and small businesses in the Mid-Atlantic and Northeast regions of the United States. For more information, please visit their website.
About Delos Capital:
Delos Capital, founded in 2013, is a lower middle market private equity firm specializing in management buyouts, recapitalizations, and growth investments. For more information, please visit their website.
About Comvest Credit Partners:
Comvest focuses on providing flexible financing solutions to middle-market companies. Comvest provides senior secured, unitranche, second lien, and mezzanine capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $200 million for companies with revenues greater than $20 million. Comvest has offices located in West Palm Beach, Chicago, Los Angeles and New York. For more information, please visit the website.
About Comvest Partners:
Comvest Partners is a private investment firm providing equity and debt to middle-market companies across the U.S. Since its founding in 2000, Comvest has invested over $4.7 billion. Today, Comvest Partner’s funds have over $3.7 billion of assets under management. Through an extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit the website.