GB Merchant Partners Provides Term Loan to Eastern Mountain Sports
BOSTON, MA – GB Merchant Partners, the investment management affiliate of Gordon Brothers Group, announced today that it has provided a term loan supported by real estate, intellectual property and inventory to Eastern Mountain Sports.
The term loan is part of a new financing package totaling $50 million which also includes a senior credit facility and equity raised from existing investors.
"We are thrilled with this financing package which positions EMS for future growth and success at a time when most retailers are struggling," commented Will Manzer, CEO of Eastern Mountain Sports.
Added Lawrence Klaff, Principal and Managing Director at GB Merchant Partners, “We are glad to be part of the overall financing solution to facilitate growth for Eastern Mountain Sports.”
Founded in 1967 and based in Peterborough, NH, Eastern Mountain Sports is an outfitter of outdoor gear, clothing, footwear and accessories with 64 retail stores.
About GB Merchant Partners
GB Merchant Partners (www.gbmerchantpartners.com), the investment management affiliate of Gordon Brothers Group with over $500 million of capital under management, focuses on private equity, structured debt and secondary debt investments. Debt investments are made as structured loans in the form of junior secured, “Tranche B” or enterprise value loans, ranging from $10 to $50 million, to middle-market companies in the distribution, wholesale, industrial, retail, consumer products and real estate sectors. Equity investments are made through the 1903 Equity Fund, which takes majority and minority equity positions in middle-market retail and consumer products companies.