Comvest Credit Partners has provided a $40 million senior credit facility to Ojos Locos, a Hispanic-focused sports bar chain. In addition to the credit facility, Comvest has also made an equity investment in Ojos Locos. The financing will be used for expansion. Comvest was the administrative agent and sole lender on the credit facility.
West Palm Beach, FL – Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Sole Lender in providing a $40 million senior credit facility in addition to making an equity investment in Ojos Locos, LLC (“Ojos Locos” or the “Company”).
“We are excited to partner with Comvest as we position our Company for our next stage of growth. The Comvest investment will provide us with the capital necessary to continue to expand our footprint throughout the United States,” said Rich Hicks, CEO of Ojos Locos.
“We are impressed with Ojos Locos’ value proposition, proven management team, and consistent track record. We look forward to working with Ojos Locos as they execute on their growth initiatives,” said Dan Lee, Partner at Comvest.
About Ojos Locos:
Founded in 2010, Ojos Locos is a Hispanic-focused sports bar concept with 7 locations in Texas. The Company maintains a primary focus on serving the Hispanic community with a Spanish-fluent wait staff, coverage of sporting events with strong Hispanic influences and Hispanic-influenced branding and cuisine. For more information, please visit their website https://www.ojoslocos.com/.
About Comvest Credit Partners:
Comvest Credit Partners, through affiliated private funds, focuses on providing flexible financing solutions to middle-market companies. We provide senior secured, unitranche, second lien, and mezzanine capital as well as equity co-investments. We lend to sponsored and non-sponsored companies, in support of refinancings, growth capital, acquisitions, buyouts, and recapitalizations. Credit facilities typically range from $20 million to $200 million for companies with revenues greater than $15 million. For more information, please visit our 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 $3.9 billion in over 180 companies. Today, Comvest’s funds have $3.2 billion of assets under management. Through our extensive capital resources and broad network of industry relationships, we offer our companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit our website.