Deal Details

Savers Completes $461.4 Million Initial Public Offering

Consumer

Savers initial public offering

Summary

Savers Value Village, Inc. (“Savers”) (NYSE: SVV), a portfolio company of the private equity group of Ares Management Corporation (“Ares”) (NYSE: ARES), recently completed its upsized initial public offering of 25,635,415 shares of its common stock, including the full exercise of the underwriters’ option to purchase 3,343,749 additional shares, at a price to the public of $18.00 per share, generating gross proceeds of approximately $461.4 million. The Company intends to use the net primary proceeds of the offering, together with cash on the balance sheet, to repay indebtedness.

Baird served as a bookrunner on this transaction.

About

Savers is the largest for-profit thrift operator in the United States and Canada based on number of stores. With over 22,000 team members, Savers operates a total of 317 stores under Savers, Value Village, Village des Valeurs, Unique, and 2nd Ave banners. Savers champions reuse and inspires a future where secondhand is second nature. Savers is committed to redefining secondhand shopping by providing one-of-a-kind, low-priced merchandise ranging from quality clothing to home goods in an exciting treasure-hunt shopping environment.

Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. As of December 31, 2022, Ares’ global platform had approximately $360 billion of assets under management, with approximately 2,600 employees operating across North America, Europe, Asia Pacific and the Middle East.

Consumer

Savers initial public offering