Eastern Mountain Sports said that in order to facilitate future growth, it closed on new financing totaling $50 million. In addition to raising new equity from existing investors, EMS closed on a new, larger senior credit facility led by Wells Fargo Retail Finance.

Will Manzer, CEO, commented, “We are thrilled with this financing package which positions EMS for future growth and success at a time when most retailers are struggling. Having completed the repositioning of EMS, taking the Company back to its roots as an authentic outdoor outfitter, we are now focused on investing in new stores, continuously improving the quality of our products, and consistently delivering superior value and customer service. EMS continues to excel, despite these tough economic times, by providing our customers with an exceptional way to enjoy their passions in a cost effective manner. We enable our customers to enjoy what is already theirs and free which is the great outdoors!”

EMS said the new financing “positions the company well to continue its growth strategies including several new, larger store openings.” In April of this year, the company opened a 13,400 square foot store in Annapolis, MD. In May, the company opened its 18,000 square foot flagship store in SoHo, New York. For 2010, there are three additional confirmed openings planned in Hingham, MA, Collegeville, PA, and Waterford, CT with additional store openings being considered.

Founded in 1967, EMS has 64 retail stores in 12 states.