Monday, June 29, 2015

Nearly $200 million for Philly dollar-store chain

Five Below Inc. raises $194 million from a big Boston private equity firm

Nearly $200 million for Philly dollar-store chain

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Last month Five Below Inc., the Center City-based pre-teenager-focused dollar-store chain run by Zany Brainy fancy-toy-store veterans Tom Vellios and David Schlessinger, said it had raised a pile of money from Advent International, Boston, to fund ambitious expansion plans.

At the time, the firms wouldn't say how much. But Five Below told the SEC yesterday that it raised $194 million from an unnamed fund, solving the mystery, reports Robert D. Hunt of FormDs.com. We guess that boosts the value of Five Below shares held by Ira Lubert's LLR and other Five Below backers. See Zainy Brainy's $194 million disclosure here.

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About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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