Peavey Industries LP has announced the successful completion of a financing package of up to $155 million, using Gordon Brothers, a Boston-based financial services company. The package includes a $105 million first-lien revolving credit facility, a $30 million committed first-in-last-out (FILO) term loan, and a $20 million consignment program to support Peavey’s continued growth.
Peavey Industries is a specialty farm and ranch retailer which operates 90-plus stores under the Peavey Mart and MainStreet Hardware banners. As part of the deal with Gordon Brothers, Peavey says it will evaluate its underperforming locations for improvements. The financing will also enable Peavey to launch an approved inventory enhancement program.
