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MidCap Financial Closes $60MM Senior Secured Credit Facility for Bob’s Stores and Eastern Mountain Sports

June 06, 2022, 07:53 AM
Filed Under: Retail

MidCap Financial 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.  

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.

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