November, 2009 - Cross Keys Capital announces Superior Uniform Group's Acquisition of Blade Sportswear

Seminole, Florida - Cross Keys Capital served as the exclusive financial advisor to the Seminole, Florida based Superior Uniform Group, Inc. (NASDAQ: SGC) in its strategic acquisition of Blade Sportswear, Inc.  Founded in 1991, Blade is a privately held company that specializes in designing, manufacturing and distributing uniforms to major domestic restaurants and foodservice chains throughout the U.S. Blade's award-winning image apparel is worn by some of the most prestigious brands in the foodservice industry.

“Having worked with Bill Britton over the last year, we have reviewed a number of potential acquisition targets together.  Bill is absolutely relentless in his efforts to find good targets and in his pursuit of those targets once identified.  The Cross Keys team demonstrated strong industry experience and provided valuable insights throughout the acquisition process. They handled the transaction in a professional, efficient manner from start to finish, adding value throughout. We have completed several deals with Cross Keys as our advisers, and are continuing to work with them to find additional acquisitions,” Commented, Gerald Benstock, Chairman of the Board, Superior Uniform Group.

Cross Keys worked with Superior to create an acquisition road map, which spelled out the strategic nature of its expansion plans, as well as the sequence and timing of the acquisition process. Cross Keys identified numerous companies on behalf of Superior and engaged the most promising targets. The identification process not only identified the appropriate targets, it also provided a head start on the strategic due diligence process.  Cross Keys aided the acquirer from start to finish, from prospect meetings, to negotiations, and ultimately closing.  Despite a volatile economic climate, Cross Keys successfully completed the transaction in a three month time period and under mutually beneficial terms.

“We have utilized Cross Keys as our advisers on several transactions including both buy-side and sell-side services.  Bill Britton and his team have been tremendous assets for us in navigating through several difficult transactions and providing sound advice and solid execution.  He has always kept our best interest at the forefront of the process and has never pushed us into a transaction that did not make sense for us,” added Andrew D. Demott, Jr., Chief Financial Officer, Superior Uniform Group.

Bill Britton, Managing Director at Cross Keys Capital added “Superior is a high-quality uniform company with an exceptional management team. We are pleased to have represented such an outstanding company in these difficult markets.  The closing of this transaction significantly strengthens Superior’s presence in the quick service food marketplace and allows Superior’s management team to do what it does best – provide quality services to their customers and focus on expanding its market presence.”

ABOUT SUPERIOR UNIFORM GROUP, INC. (NASDAQ: SGC)

Superior Uniform Group, Inc., established in 1920, is one of America's foremost providers of fine uniforms and image apparel. Superior manages award-winning apparel programs for major corporations. They are leaders in innovative uniform program designs, global manufacturing, and state-of-the-art distribution. Superior, through their subsidiary "The Office Gurus," is also a near-shore premium provider of cost effective bilingual contact center and office solutions.

Superior's financial strength and resources support a customer's diverse needs while embracing a "Customer 1st, Every Time!" philosophy and culture. Their commitment to service, technology, quality and value-added benefits separates them from the competition in each of their seven primary markets: Healthcare, Hospitality, Food Service, Retail Employee I.D., Government Service, Private Security, and Rental Service.

 

© 2009 Cross Keys Capital, LLC.