Andrew Moser, Senior Managing Director of GMAC CF's Retail Finance Group said, "As members of the prior bank group of Goody's, GMAC CF and CIT both enjoyed a long relationship with the Company, and we have been impressed with its plans for the future. We are pleased to co-lead, along with CIT, this new facility and look forward to working with the Company to exceed its objectives."
According to Burt Feinberg, Managing Director for CIT's Retail Finance Group, "This was a great opportunity for CIT and GMAC CF to provide a capital markets solution for GMM Capital and Prentice Capital Management, two equity sponsors that are quite active in the retail industry. Collectively, they bring both operational and financial acumen to Goody's."
Goody's, headquartered in Knoxville, Tenn., is a retailer of moderately priced family apparel, and currently operates 381 stores in the 21 states of Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Mississippi, Missouri, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia.
As part of the Asset Based Lending Division, GMAC CF's Retail Finance Group is recognized nationally as a leader in delivering creative capital solutions relevant to the ever-changing marketplace.
CIT Retail Finance, a unit of CIT Business Capital, is a leading provider of financing and capital markets solutions to mid-sized and large retailers.
GMAC CF Retail Finance Group
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