Harris Williams & Co. Advises Shoes For Crews on its Sale to CCMP Capital Advisors, LLC
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Shoes For Crews to CCMP Capital Advisors, LLC (CCMP). Shoes For Crews is a leading manufacturer and distributor of proprietary slip-resistant footwear. Harris Williams & Co. served as the exclusive advisor to Shoes For Crews, a portfolio company of AEA Investors LP (AEA). The transaction was led by John Neuner, Brent Spiller and Chip Duggins of Harris Williams & Co.’s Consumer Group, Bob Baltimore of the firm’s Business Services Group and David Jones of the firm’s Richmond office.
“Shoes For Crews is a remarkable platform that continues to evolve and drive innovation in the slip-resistant footwear industry. It has been a pleasure working with the company’s founders, Stan Smith and Matt Smith, and the rest of the management team to find a new partner who shares the company’s vision for the future. We have a longstanding relationship with the AEA team and are delighted to have represented them on this transaction,” said John Neuner, a managing director at Harris Williams & Co.
“Shoes For Crews’ differentiated product offering is a proven solution for limiting workplace slip and fall accidents and reducing employers’ workers’ compensation expenses,” added Bob Baltimore, a managing director at Harris Williams & Co. “The company has built a tremendous presence across the foodservice industry and is poised to further penetrate the industrial, hospitality and healthcare markets as the company widens its customer base.”
Shoes For Crews is the leading designer and marketer of slip-resistant footwear worldwide. Headquartered in West Palm Beach, Florida, Shoes For Crews began producing slip-resistant footwear in 1984. Through its superior technology, the company quickly became the industry leader. Shoes For Crews strives to create a safer workplace in all industries where floor hazards and slip and fall accidents are a reality. The Shoes For Crews team’s focus is to deliver the ultimate in slip-resistant technology, through a complete line of footwear designed to improve the “quality of life” of workers by combining slip-resistance, comfort and durability into all the company’s products.
AEA was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. Today, AEA’s approximately 70 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $9 billion of invested and committed capital including the leveraged buyouts of middle market companies and small businesses and mezzanine and senior debt investing. AEA Private Equity invests across four sectors: value-added industrial products, specialty chemicals, consumer/retail and services.
Established in 2006, CCMP specializes in middle market buyouts and growth equity investments of $100 million to $500 million in North America and Europe. CCMP focuses on generating returns through the operational transformation and growth of its portfolio companies. With offices in New York, Houston and London, CCMP invests in four primary industries: consumer/retail, industrial, chemicals/energy and healthcare.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services.
Harris Williams & Co.’s Consumer Group has completed more than 100 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage, and agribusiness; and restaurant and retail. For more information on Harris Williams & Co.’s Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams & Co. website.
Harris Williams & Co.’s Business Services Group has experience across a variety of sectors, including facilities services; route-based services; environmental services; business process outsourcing; legal and insurance services; marketing and information services; professional services; payment processing and financial services; and education and training;. For more information on the firm’s Business Services Group and other recent transactions, visit the Business Services Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.