Comvest Partners Facilitates $70 Million Senior Credit Facility for Nationwide Energy Partners to Accelerate Growth Strategy
Comvest Partners, a prominent private equity and credit investment firm in the middle-market segment, announced that its direct lending platform, Comvest Credit Partners, will act as Administrative Agent and Sole Lender on a $70 million senior secured credit facility for Nationwide Energy Partners (NEP), an Ohio-based provider specializing in utility management services for multifamily properties. This financing initiative aims to retire existing debt and bolster new strategic initiatives for NEP.
Founded in 1999, NEP focuses on delivering privatized electricity and water management solutions to multifamily property owners, managers, and developers across Ohio, Pennsylvania, with additional operations in New York and Texas. Their comprehensive services encompass the design, installation, and ongoing maintenance of last-mile electric and water infrastructure systems, along with billing, data analytics, consulting, and customer support. Notably, NEP has prioritized clean energy solutions since 2021, emphasizing their commitment to sustainable practices.
“Comvest Credit Partners continues to focus on investing in well-positioned providers of critical infrastructure services,” noted Chris O’Donnell, Managing Director at Comvest. “NEP has established itself as a leader in delivering sustainable energy solutions within the multifamily sector, boasting a strong reputation and impressive growth trajectory. Our collaborative approach with NEP’s leadership team has resulted in a flexible financing solution that provides immediate and future funding to support NEP’s strategic initiatives.”
“Comvest demonstrated exceptional creativity and diligence in navigating the complexities of the energy market to structure a financing package that accelerates NEP’s growth strategy,” commented Timothy J. (T.J.) Harper, President of NEP. “Their capability to expand the facility’s size over time was pivotal in our decision-making process. This partnership empowers NEP to continue delivering superior energy management services to our current multifamily partners while expanding into new and existing markets nationwide.”
About Nationwide Energy Partners
Nationwide Energy Partners (NEP) is an Ohio-based energy services company specializing in utility management for multifamily communities through privatized utility ownership and clean energy technologies. For more information, visit www.nationwideenergypartners.com.
About Comvest Credit Partners
Comvest Credit Partners, the direct lending arm of Comvest Partners, provides flexible financing solutions to middle-market companies. They offer senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies to support growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities extending up to $250 million-plus. For more information, please visit www.comvest.com/direct-lending.
