WEST PALM BEACH, Fla., Jan. 15, 2020 (GLOBE NEWSWIRE) — Comvest Partners (“Comvest”) is pleased to announce its investment in Encompass Supply Chain Solutions, Inc. (“Encompass” or the “Company”). With distribution facilities located in Lawrenceville, GA, Davie, FL and Las Vegas, NV, Encompass is recognized as a leading supplier of genuine repair parts, primarily serving the home appliance, consumer electronics, computing, personal care and HVAC end markets.
The Company serves both business and consumer customers across the U.S. with access to original parts from more than 200 manufacturers. Its business-to-business customer base largely comprises national retailers, underwriters, dealers, manufacturers, property management companies and distributors. Beyond distribution, Encompass offers a wide range of 4PL parts supply chain services, most notably parts forecasting, procurement & inventory management and accounts receivable services. The Company is also one of the only parts suppliers in the industry to maintain an on-site depot repair facility.
“As the nation’s broadest multi-vertical parts distributor, we believe Encompass is well positioned to maintain our growth trajectory,” said Encompass President and CEO Robert Coolidge. “With the addition of Comvest’s support, we are excited to continue investing in a variety of innovative initiatives to enhance support to our customers. Technology upgrades and automation are among the key elements of our ongoing strategy to further strengthen Encompass’ standing in the market.”
“Encompass’ diverse product offerings, combined with integrated customer and vendor relationships through their comprehensive 4PL services, make for a compelling investment opportunity,” said Maneesh Chawla, Partner in Comvest Partners’ Strategic Growth strategy. “We are thrilled to partner with Robert and the rest of the leadership team to support their future growth plans.”
Comvest was advised by Akerman LLP. Encompass was advised by Metronome Partners and Proskauer Rose LLP.
About Encompass Supply Chain Solutions, Inc.
Formed in 1953, Encompass is one of the country’s largest suppliers of repair parts and accessories for products throughout the home. Encompass also offers complete parts supply chain management, 3PL, depot repair and reverse logistics services. In addition to consumers, the Company supports an array of B2B customers, including manufacturers, multi-family property management companies, warranty providers, service networks, independent dealers and retailers. For more information, please visit https://solutions.encompass.com.
About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across North America. Since its founding in 2000, Comvest has invested over $4.7 billion. Today, Comvest’s funds have over $3.7 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. For more information, please visit www.comvest.com.
For more information:
Maneesh Chawla, Partner, Comvest Partners – [email protected]
Carlos Soto, Principal, Comvest Partners – [email protected]
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