Comvest Credit Partners leads the dividend recapitalization of
WEST PALM BEACH, Fla., March 09, 2022 (GLOBE NEWSWIRE) — Comvest Credit Partners (“Comvest”), a leading provider of flexible financing solutions for middle market businesses, is pleased to announce that it acted as administrative agent in providing a senior secured credit facility (the “Funding”) to Another Broken Egg (or the “Company”), an Orlando, Florida-based restaurant operator and franchisor of daytime full-service cafes only. The Funding was used to support a dividend recapitalization and future growth of the Company by The Beekman Group.
Founded in 1996, Another Broken Egg has grown to become one of the leading daytime dining concepts in the rapidly growing high-end breakfast category, operating 80 company-owned and franchised Another Broken Egg Cafe locations in 15 states. nationwide, with 20 new locations in various stages of development. development. The chain offers innovative menus of Southern-inspired dishes, from breakfast classics to brunch specialties, and warm hospitality.
“Comvest has remained actively focused on the restaurant industry through all market cycles,” said Nick McClelland, Chief Executive Officer of Comvest. “We are excited to deepen our commitment to the casual dining segment, particularly daytime full-service restaurants.”
“This transaction underscores Comvest’s deep capabilities and expertise in structuring creative debt solutions to help fast-growing restaurant-franchisors like Another Broken Egg accelerate their expansion,” said Dan Lee, Partner at Comvest. “We look forward to further developing our relationship with the Beekman Group to support the continued growth of Another Broken Egg.”
Another Broken Egg was named Breakout Franchise Brand of the Year in 2020 by FRS magazinewhich covers the full-service restaurant industry.
About another broken egg:
Another Broken Egg is an upscale breakfast, brunch and lunch restaurant that specializes in award-winning Southern-inspired menu options with innovative twists and signature cocktails. For more information, visit www.anotherbrokenegg.com
About Beekman Group:
The Beekman Group is a New York-based private equity firm focused on building leading companies in the healthcare, consumer and business services sectors. The company partners with management teams that want to be significant owners and create significant value by accelerating organic growth and acquisition initiatives. Beekman manages over $1 billion in assets and has completed over 130 transactions since inception. For more information, visit www.thebeekmangroup.com
About Comvest Credit Partners:
Comvest Credit Partners is focused on providing flexible financing solutions to middle market businesses. Comvest provides senior secured, unitranche, junior and mezzanine capital to sponsored and non-sponsored companies to support growth, acquisitions, buyouts, refinancings and recapitalizations. Credit facilities typically range from $25 million to $250 million and more for companies with revenues over $20 million. Comvest has offices located in West Palm Beach, Chicago and New York. For more information, visit www.comvest.com/direct-lending
About Comvest Partners:
Comvest Partners is a private investment firm providing equity and debt capital to middle market companies across the United States. Since its inception in 2000, Comvest has invested over $7.7 billion. Today, Comvest has over $6.4 billion in assets under management. With significant capital resources and an extensive network of industry relationships, Comvest Partners provides companies with financial sponsorship, critical strategic and operational support and business development assistance. For more information, visit www.comvest.com
For more information please contact:
Dan Lee, Partner, Comvest Credit Partners – [email protected]
Nick McClelland, Managing Director, Comvest Credit Partners – [email protected]