MidCap Financial Closes Senior Secured Credit Facility and Preferred Equity to Bob’s Stores and Eastern Mountain Sports
June 6, 2022
Source: MidCap Financial
BETHESDA, MD, June 3, 2022 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $60,000,000 senior secured credit facility, comprising a $50,000,000 asset-based revolving line of credit and $10,000,000 term loan, as well as a $500,000 preferred equity co-investment to Bob’s Stores (“Bob’s”) and Eastern Mountain Sports (“EMS”). Proceeds from MidCap supported GoDigital Media Group’s acquisition of Bob’s and EMS and will further be used to provide for the business’ ongoing working capital needs.
About Bob’s and EMS
Bob’s is a retailer of apparel, footwear and workwear with 21 locations across the Northeast. EMS is an iconic brand in the adventure sports industry and an established omnichannel specialty retailer providing customers with leading outdoor performance brands and products with 21 locations. For more information, please visit www.ems.com and www.bobstores.com.
About GoDigital Media Group
Based in Los Angeles, GoDigital Media Group (“GoDigital”) is a diversified multinational conglomerate focused on technology-enabled and vertically integrated IP rights management through its operating subsidiaries. GoDigital is focused on the synergy of content, community and commerce across music, video networks and brands. For more information, please visit www.godigitalmg.com.
About MidCap Financial
MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of December 2021, MidCap Financial provides administrative or other services for over $39.6 billion of commitments. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $497.6 billion as of December 31, 2021 in credit, private equity and real assets funds. For more information about MidCap Financial, please visit http://www.midcapfinancial.com. For more information about Apollo, please visit http://www.apollo.com.
Contact:
MidCap Financial Services, LLC
Garrett Fletcher, Product Head – ABL
301-841-6439
gfletcher@midcapfinancial.com
