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Nearly $200 million for Philly dollar-store chain
Five Below Inc. raises $194 million from a big Boston private equity firm
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.