Comvest Credit Partners is acting as Administrative Agent and is the Sole Lender on a senior secured credit facility to support the acquisition of TFS, Ltd., by Southfield Capital.

TFS is a leading independent provider of turnkey fleet management services for material handling assets such as forklifts and automated guided vehicles, serving Fortune 1000 and large manufacturing and distribution companies throughout North America. TFS also originates financing and leasing solutions through its subsidiary, OnPoint Capital. Based in Perrysburg, Ohio, TFS services more than 100 customers with over 35,000 total assets under management across over 2,100 sites.

“TFS occupies a growing segment of the materials handling market, offering critical value-added services to a deeply rooted customer base,” said Joe Higginbotham, a Managing Director at Comvest. “Comvest was pleased to leverage our sector and specialty finance expertise to structure a supportive facility for the acquisition. We look forward to continuing to build our relationship with Southfield Capital, which brings deep knowledge of the management team and the business as a previous investor in the company.”

“We had a terrific experience working with Comvest,” said Andy Cook, a Partner of Southfield Capital. “Comvest delivered a complete financing solution that enabled us to move quickly to execute a complex M&A transaction involving a corporate carve-out. We look forward to supporting TFS as the company continues to deliver excellent outcomes for customers while growing and expanding its service offering.”