Purchasing Power gets $120 million senior secured credit facility

By Marisa Wong

Los Angeles, July 7 – Purchasing Power obtained a $120 million senior secured credit facility with Comvest Credit Partners as administrative agent, according to a press release.

The transaction, with institutional alternative management firm Crestline Investors, provided financing to refinance existing debt, pay a dividend to existing investors and fund ongoing growth of business.

Purchasing Power is an Atlanta-based voluntary benefits provider of employee purchase programs for consumer products and services through payroll deduction.

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