Houlihan Lokey Advises Spinrite

Houlihan Lokey is pleased to announce the successful placement of a senior secured credit facility for Spinrite Holdings Inc. (Spinrite), a portfolio company of Comvest Private Equity (Comvest). The financing consisted of a revolver and a senior term loan. The transaction closed on December 5, 2025, and proceeds were used to refinance the company’s existing indebtedness.

Established in 1952, Spinrite is the leading North American provider of branded yarn and craft products, offering a recognized portfolio of brands across the full “good-better-best” pricing spectrum. The company serves a passionate and growing consumer base, driving engagement through continuous innovation, new product development, and industry-leading pattern and inspiration content. Spinrite holds a market-leading position in the sizeable and growing needlecraft category, supported by a strong omnichannel presence across major brick-and-mortar retailers and online platforms.

Comvest is a leading middle-market investment firm partnering with companies across the consumer, healthcare services, business services, and industrial services sectors. Since 2000, Comvest has focused on control investments in businesses with strong growth potential, working alongside management teams to provide financial sponsorship, strategic guidance, and operational resources to build businesses for lasting growth. Headquartered in West Palm Beach, Comvest manages nearly $2 billion in assets across four flagship funds.

Houlihan Lokey’s Capital Solutions Group served as the exclusive placement agent to Spinrite, assisting the company in arranging, structuring, and negotiating the financing. Houlihan Lokey ran a highly targeted financing process, leveraging competitive tension to drive efficient execution. The transaction highlights Houlihan Lokey’s ability to achieve outlier results for its clients.

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