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.

Oct 02, 2024•about 1 year ago

Amount Raised

$175 Million

MorgantownRetail

Investors

Ares ManagementSecond Avenue Capital Partners

Description

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 Information

Company

Gabe's

Location

Morgantown, Kentucky, United States

About

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.

Related People

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Funding Insights

Based on industry data

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