Boston, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Gordon Brothers, the global asset experts, has provided Peavey Industries LP (Peavey) a financing package of up to C$155 million, consisting of a C$105 million first-lien revolving credit facility, a C$30 million first-in, last-out term loan, and a C$20 million consignment program, to support Peavey’s go-forward strategy.
Additionally, Gordon Brothers will provide store and inventory rationalization, vendor support, portfolio evaluation and lease renegotiations to holistically support the continued operations of the Canadian specialty farm and ranch retailer.
“Alongside the capital needed to continue operations, our holistic review and evaluation of Peavey’s entire portfolio and ongoing strategic guidance underscores our innovative and comprehensive solutions,” said Kyle C. Shonak, Chief Transaction Officer, North America at Gordon Brothers. “By bringing together our combined deep asset experience in lending, retail and real estate, we provided the increased liquidity and operational flexibility needed to maintain the long-term success of this family business.”
"Gordon Brothers’ financing and strategic partnership is a critical part of our strategy to streamline operations and continue delivering exceptional value to our customers,” said Doug Anderson, Chief Executive Officer of Peavey. “Their expertise and support have enabled us to move forward with confidence and, together, we are focused on adapting, innovating and continuing to serve Peavey’s customers across Canada.”
Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide liquidity solutions to clients beyond its market-leading disposition and appraisal services.
Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide its expertise and additional capital in special situations. The firm’s tailor-made solutions coexist with traditional debt and equity, and its structures complement senior asset-based lending facilities with credit and yield enhancements.
To learn more about Gordon Brothers and the firm’s asset lending and financing services, please visit: https://www.gordonbrothers.com/solutions/asset-lending-financing/.
About Gordon Brothers
Since 1903, Gordon Brothers has maximized liquidity through realizable asset value by providing the people, expertise and capital to solve business challenges. Our solutions-oriented approach across asset services, lending, financing and trading gives clients the insights, strategies and time to optimize asset values throughout the business cycle. We work across the full spectrum of assets globally with deep expertise in retail, commercial, industrial, brands and real estate. We are headquartered in Boston with over 30 offices across North America, Europe, the Middle East and Africa, and Asia Pacific.
About Peavey Industries LP
Peavey Industries LP is Canada’s largest farm and ranch retailer, serving communities nationwide with a focus on providing quality products and exceptional service. Operating under the banners of Peavey Mart and MainStreet Hardware, Peavey Industries continues to support the livelihoods of hardworking Canadians across urban and rural markets.
Lauren Nadeau Gordon Brothers 16174226599 lnadeau@gordonbrothers.com
