Comvest Credit Partners, a leading provider of flexible direct financing solutions to middle-market companies, announced that it is acting as an administrative agent and sole lender on an $85 million senior secured credit facility to support The Riverside Company’s acquisition of Seatex.
Seatex is a leading manufacturer and provider of specialty chemicals and chemical technology solutions to a diverse set of end markets. And its capabilities encompass virtually every aspect of chemical solutions, from process development and formulation support to specialty blending, grinding and milling, and complex reactions. Seatex serves customers ranging from startups to Fortune 100 businesses, supporting products available in liquid, powder, solids and portion control packages.
Founded in 1967, Seatex maintains headquarters in Rosenberg, Texas, along with two additional manufacturing facilities.
KEY QUOTES:
“Comvest Credit continues to focus on investing in well-positioned industrial businesses with strong value propositions and defensible market share. Seatex is a long-tenured company that serves a diversified blue-chip customer base with value-added chemical manufacturing capabilities companies typically do not have in house. Additionally, Seatex has the backing of a private equity sponsor with experience in the specialty chemicals sector.”
– Chris O’Donnell, a Managing Director and Co-Head of Industrials at Comvest Credit
“We had a terrific experience working with the Comvest Credit team. They delivered a customized facility on a tight timeline that supported our acquisition and responded to Seatex’s need for flexibility and desired capacity for future growth.”
– Craig Kahler, a Partner of Riverside
