Second Avenue Capital Partners and Ares Management Provide Gabe's with New $175,000,000 Credit Facility
Second Avenue Capital Partners (SACP) and Ares Management Credit funds have provided Gabe's, a leading off-price retailer, with a new $175,000,000 Senior Secured Revolving Line of Credit. This credit facility will support Gabe's growth initiatives, enhance operational flexibility, and strengthen its capital structure.
Gabe's, a Warburg Pincus portfolio company, operates 161 Gabe's and Old Time Pottery store locations across 20 states. The company offers top brand names and fashion at savings up to 70% off department store merchandise.
SACP's unique merchant perspective and deep retail knowledge were highlighted as key factors in this partnership. The financing package represents the culmination of a long-term relationship between SACP, SB360 Capital Partners, and Gabe's.
Second Avenue Capital Partners (SACP) e Ares Management Credit funds hanno fornito a Gabe's, un importante rivenditore a prezzo scontato, una nuova Linea di Credito Rinnovabile Garantita da $175,000,000. Questa linea di credito sosterrà le iniziative di crescita di Gabe's, migliorerà la flessibilità operativa e rafforzerà la sua struttura di capitale.
Gabe's, una società del portafoglio di Warburg Pincus, gestisce 161 negozi Gabe's e Old Time Pottery distribuiti in 20 stati. L'azienda offre nomi di marca di alta qualità e moda con risparmi fino al 70% rispetto ai prodotti dei grandi magazzini.
La prospettiva unica dei commercianti di SACP e la profonda conoscenza del settore retail sono stati evidenziati come fattori chiave in questa partnership. Il pacchetto di finanziamento rappresenta il culmine di una relazione a lungo termine tra SACP, SB360 Capital Partners e Gabe's.
Second Avenue Capital Partners (SACP) y Ares Management Credit funds han proporcionado a Gabe's, un destacado minorista de precios reducidos, una nueva Línea de Crédito Renovable Asegurada de $175,000,000. Esta facilidad de crédito apoyará las iniciativas de crecimiento de Gabe's, mejorará la flexibilidad operativa y fortalecerá su estructura de capital.
Gabe's, una compañía del portafolio de Warburg Pincus, opera 161 ubicaciones de tiendas Gabe's y Old Time Pottery en 20 estados. La empresa ofrece marcas de alta calidad y moda con descuentos de hasta el 70% en comparación con los productos de las grandes tiendas.
La perspectiva única de comerciante de SACP y su profundo conocimiento del sector minorista se destacaron como factores clave en esta asociación. El paquete de financiamiento representa el culmen de una relación a largo plazo entre SACP, SB360 Capital Partners y Gabe's.
세컨드 애비뉴 캐피탈 파트너스 (SACP)와 아레스 매니지먼트 신용 펀드가 게이브스(Gabe's), 유력한 할인 소매업체에 1억 7천5백만 달러 규모의 선순위 보장 순환 신용 한도를 제공했습니다. 이 신용 시설은 게이브스의 성장 계획을 지원하고, 운영 유연성을 향상시키며, 자본 구조를 강화하는 데 도움을 줄 것입니다.
게이브스는 워버그 핀커스 포트폴리오 회사로, 20개 주에 걸쳐 161개의 게이브스 및 올드 타임 포터리 매장을 운영하고 있습니다. 이 회사는 주요 브랜드 네임과 패션을 통해 백화점 상품보다 최대 70% 저렴한 가격에 제공합니다.
SACP의 독특한 상인 관점과 깊은 소매업 지식은 이번 파트너십의 주요 요소로 강조되었습니다. 이 자금 조달 패키지는 SACP, SB360 캐피탈 파트너스 및 게이브스 간의 장기적인 관계의 결실을 나타냅니다.
Second Avenue Capital Partners (SACP) et Ares Management Credit funds ont fourni à Gabe's, un détaillant important de prix réduits, une nouvelle Ligne de Crédit Renouvelable Senior Sécurisée de 175 000 000 $. Cette facilité de crédit soutiendra les initiatives de croissance de Gabe's, améliorera la flexibilité opérationnelle et renforcera sa structure de capital.
Gabe's, une entreprise du portefeuille de Warburg Pincus, exploite 161 magasins Gabe's et Old Time Pottery à travers 20 États. L'entreprise propose des marques de premier choix et de la mode avec des économies allant jusqu'à 70 % par rapport aux produits des grands magasins.
La perspective unique des commerçants de SACP et sa profonde connaissance du secteur de la vente au détail ont été mises en avant comme des facteurs clés dans ce partenariat. Le package de financement représente le point culminant d'une relation à long terme entre SACP, SB360 Capital Partners et Gabe's.
Second Avenue Capital Partners (SACP) und Ares Management Credit funds haben Gabe's, einen führenden Discounter, mit einer neuen Senior Secured Revolving Line of Credit über 175.000.000 $ ausgestattet. Diese Kreditfazilität wird die Wachstumsinitiativen von Gabe's unterstützen, die betriebliche Flexibilität erhöhen und die Kapitalstruktur stärken.
Gabe's, ein Portfoliounternehmen von Warburg Pincus, betreibt 161 Gabe's- und Old Time Pottery-Geschäfte in 20 Bundesstaaten. Das Unternehmen bietet hochwertige Marken und Mode zu Ersparnissen von bis zu 70 % im Vergleich zu den Produkten in Kaufhäusern an.
Die einzigartige Händlerperspektive und das tiefe Einzelhandelswissen von SACP wurden als entscheidende Faktoren für diese Partnerschaft hervorgehoben. Das Finanzierungsangebot stellt den Höhepunkt einer langjährigen Beziehung zwischen SACP, SB360 Capital Partners und Gabe's dar.
- New $175 million credit facility secured to support growth initiatives
- Partnership with experienced lenders SACP and Ares Management
- Potential for enhanced operational flexibility and strengthened capital structure
- Gabe's operates 161 store locations across 20 states, indicating strong market presence
- None.
Insights
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The credit facility will likely enhance Gabe's liquidity position, providing capital for growth initiatives and operational flexibility. This is particularly important in the competitive off-price retail sector. The backing of Warburg Pincus, a major private equity firm, adds another layer of financial strength to Gabe's position.
For investors, this deal signals confidence in Gabe's business model and growth prospects. It also highlights ARES's expanding role in providing alternative financing solutions, which could be a positive indicator for the company's future revenue streams in the asset management sector.
This credit facility is a strategic move for Gabe's in the off-price retail landscape. With 161 stores across 20 states, Gabe's has established a significant presence in the mid-Atlantic and Southeast US. The
The off-price retail model, offering discounts up to
The involvement of retail-savvy lenders like SACP, with their "merchant perspective," suggests a nuanced understanding of Gabe's business model and potential. This tailored approach to financing could provide Gabe's with a competitive edge in executing its growth strategy.
Gabe's, a Warburg Pincus portfolio company, currently operates 161 Gabe's and Old Time Pottery store locations across 20 states. The company was founded in 1961 by brothers James and Arthur Gabriel, and is headquartered in
Andrew Prunier, Managing Director of Second Avenue Capital Partners, commented, "Gabe's has built a strong position in the off-price retail market, and we are thrilled to partner with them at this exciting stage of their growth. This credit facility will provide the company with the financial resources and the liquidity they need to capitalize on new opportunities and maintain their competitive advantage in a dynamic retail landscape."
"There are few lenders that have the deep retail knowledge and merchant perspective of SACP, and even fewer that can be genuine, productive partners for a business like ours," said Jason Mazzola, President and CEO of Gabe's. "Our long-term relationship with SACP and SB360, and our ability to work side-by-side with them are core to the structure of this transaction. We appreciate their ongoing support and look forward to the many opportunities it will provide us."
Aaron Miller, President of SB360 Capital Partners, the parent company of SACP, added, "This financing package represents the culmination of our long-term relationship with Gabe's. Our team members have played roles in previous financing transactions for both Gabe's and Old Time Pottery (OTP). Before its acquisition by Gabe's, OTP was part of SACP's loan portfolio. In addition, SB360 has provided advisory services, offering strategic consultation and support to Gabe's and OTP."
Furthermore, Marc Price, Executive Vice President of SB360, has an enduring relationship with Warburg Pincus. Bringing it full circle, Mr. Miller continued, "Marc's relationship with Warburg connected all the dots in aligning our partnership with Gabe's leadership team and the operating business. We're excited to continue strengthening our collaboration with all parties involved."
Second Avenue Capital Partners offers customized financing solutions that address each client's unique needs, employing a comprehensive, integrated approach to support businesses across various industries. SACP's credit facilities are structured to optimize liquidity while mitigating risk, empowering companies to navigate market volatility and seize growth opportunities. Providing clients with a broader range of capital solutions, SACP enables them to achieve their strategic objectives more effectively.
About Second Avenue Capital Partners LLC – Second Avenue Capital Partners, LLC (SACP), a Schottenstein Affiliate, specializes in asset-based loans for the broader retail and consumer products industry. Serving middle-market companies, SACP leverages the experience of retail operators, product merchants, and lenders to deliver customized capital solutions. A unique merchant perspective allows SACP to recognize and unlock value in assets other capital providers often overlook or do not understand. The firm's tailored financial solutions are a vital resource for clients seeking capital to effectuate strategy and achieve financial objectives. Learn more at sacp.com.
About Ares Management Corporation - Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2024, Ares Management Corporation's global platform had over
About Gabe's – Founded in 1961 in
About Warburg Pincus – Warburg Pincus LLC is the oldest private equity firm and a leading global growth investor. The firm has more than
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SOURCE Second Avenue Capital Partners, LLC
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