Gabe's secured a new $175M credit facility from Second Avenue Capital Partners and Ares Management to support ongoing growth initiatives and enhance operational flexibility.
Gabe's secured a new $175M credit facility from Second Avenue Capital Partners and Ares Management to support ongoing growth initiatives and enhance operational flexibility.
10/02/24, 1:42 PM
Location
morgantownMoney raised
$175 million
Industry
retail
Investors
Ares Management, Second Avenue Capital Partners
Second Avenue Capital Partners and Ares Management have closed a $175M Senior Secured Revolving Line of Credit for Gabe's, a leading off-price retailer. This funding will be utilized to support the company's growth initiatives and strengthen its capital structure.
Company Info
Location
morgantown, west virginia, united states
Additional Info
Gabe's is a leading off-price retailer operating in the mid-Atlantic and Southeast US. The company, founded in 1961, offers top brand names and fashion at discounts of up to 70% off department store prices across various product categories including apparel, accessories, and home essentials. Currently, it operates 161 stores under the Gabe's and Old Time Pottery brands across 20 states. Gabe's is a portfolio company of Warburg Pincus.