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Style provider for women Tabi Intl management hikes stake
18 Sep '06
2 min read
Tabi International Corporation today announced that it has completed a recapitalization that will support the Company's growth.
With this transaction, Tabi's existing management team will increase its ownership of the Company to approximately 40 percent, with a significant portion of the balance continuing to be held by an affiliate of Catterton Partners.
CapitalSource provided $31 million of debt and equity to support the recapitalization. Additional terms of the transaction were not disclosed.
"We are excited about the potential of the Tabi brand, our performance in the Canadian market and our eleven years of comparable store sales growth," said Margaret Morrison, Chief Financial Officer of Tabi International.
"This recapitalization underscores the confidence Catterton and CapitalSource have in our company and provides additional financial flexibility and capital to continue our expansion plans and to explore additional channels for the Tabi brand."
"We have an experienced team in place at Tabi that understands our customer, and this transaction empowers our team to fully capture the opportunities ahead."
"We are pleased to remain a partner with Tabi through this transaction and look forward to continuing to work with the Tabi team," said David Heidecorn, a Partner at Catterton Partners.
"Tabi has established a loyal clientele by offering classic style solutions to women throughout Canada," said Cheryl H. Carner, Managing Director, Retail Finance of CapitalSource. "We are delighted to have the opportunity to participate in Tabi's continued growth and market expansion."
Tabi offers classic fashions designed and coordinated to simplify the lifestyles of women 40+. This includes a full range of sportswear and accessories, and collections for Tabi Golf and Tabi Traveler.
Tabi operates 105 specialty stores in leading shopping centers across Canada and is sold in 100 Sears Canada locations.
With this transaction, Tabi's existing management team will increase its ownership of the Company to approximately 40 percent, with a significant portion of the balance continuing to be held by an affiliate of Catterton Partners.
CapitalSource provided $31 million of debt and equity to support the recapitalization. Additional terms of the transaction were not disclosed.
"We are excited about the potential of the Tabi brand, our performance in the Canadian market and our eleven years of comparable store sales growth," said Margaret Morrison, Chief Financial Officer of Tabi International.
"This recapitalization underscores the confidence Catterton and CapitalSource have in our company and provides additional financial flexibility and capital to continue our expansion plans and to explore additional channels for the Tabi brand."
"We have an experienced team in place at Tabi that understands our customer, and this transaction empowers our team to fully capture the opportunities ahead."
"We are pleased to remain a partner with Tabi through this transaction and look forward to continuing to work with the Tabi team," said David Heidecorn, a Partner at Catterton Partners.
"Tabi has established a loyal clientele by offering classic style solutions to women throughout Canada," said Cheryl H. Carner, Managing Director, Retail Finance of CapitalSource. "We are delighted to have the opportunity to participate in Tabi's continued growth and market expansion."
Tabi offers classic fashions designed and coordinated to simplify the lifestyles of women 40+. This includes a full range of sportswear and accessories, and collections for Tabi Golf and Tabi Traveler.
Tabi operates 105 specialty stores in leading shopping centers across Canada and is sold in 100 Sears Canada locations.
Tabi International Corporation
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