Bargain Hunt sells brand name merchandise at prices well below normal retail. Products sold include clothing for men, women, and children; electronics; home goods and domestics; toys; sporting goods and outdoor gear; and indoor and outdoor furniture. Bargain Hunt has stores in Tennessee, Kentucky, Georgia, Alabama, Indiana and Mississippi. The company is headquartered southeast of Nashville in LaVergne, TN (www.bargainhunt.com).
Members of the senior management team, including Founder and CEO, Robert Echols Jr., will retain equity stakes in the company. “We are very excited to partner with the THL team as we enter into our next phase of growth,” said Mr. Echols. “Our partnership will enable us to accelerate new store openings and enhance operations to continue addressing the growing demand for extreme value retail destinations.”
“We are thrilled to make an investment in Bargain Hunt in partnership with Robert Echols and the rest of the Company’s management team,” said Jeff Swenson, Managing Director of THL. “Bargain Hunt has a very unique business model that allows it to offer unmatched value to both consumers and the sellers of secondary market inventories. As the US consumer continues to seek the lowest cost retail options for essential goods, Bargain Hunt is well positioned to significantly expand its retail footprint. We look forward to working closely with Bargain Hunt’s management team as it pursues its strategic growth objectives.”
Thomas H. Lee Partners, founded in 1974, is one of the oldest private equity investment firms in the United States. Industries of interest include business and information services; consumer products and retail; financial services; health care; industrial; and media & communications. Since its founding, Thomas H. Lee Partners has raised approximately $20 billion of equity capital and invested in more than 130 businesses with an aggregate purchase price of more than $150 billion. The firm is based in Boston (www.thl.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-8-15