Comvest Partners has provided a $40 million loan to Transfast LLC, a cross-border payments provider. Transfast is owned by GCP Capital Partners.
Chicago, IL – January 2017 – Comvest Partners, through its Comvest Capital lending strategy (“Comvest”), has provided a credit facility to Transfast LLC (“Transfast” or the “Company”), a cross-border payments provider. The Comvest credit facility provides up to $40.0 million to fund business expansion and working capital growth.
“We are pleased to support the Company’s growth plans and are excited about the partnership. Transfast is well positioned in the markets they serve,” said Greg Reynolds, Partner at Comvest.
“We are excited about partnering with Comvest to help support further growth. Transfast has achieved strong and consistent organic earnings growth each year since our investment, and we believe there remains significant market opportunities across its key corridors and products,” said Boris Gutin, Managing Director at GCP Capital Partners (“GCP”). GCP is the majority private equity owner of Transfast.
Transfast is a leading provider of cross-border payments solutions to consumers and businesses around the world. The Company operates a multi-product, best-in-class payments network capable of processing payments across 120 countries and offering more than 1,000 currency pairs. For more information, visit www.transfast.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 over $2.4 billion in over 140 companies. Today, Comvest’s funds have $2.3 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.