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Perfection Uniforms closes on new senior debt facility
12
May '11
Perfection Uniforms LLC, the leading innovator in Police, Fire, EMS and DNR uniforms, has closed on a new senior debt facility as provided by First Capital. This new senior debt financing follows the August 2010 acquisition of Perfection Uniforms by SteveCo, LLC, a holding company controlled by Steve D. Olesky and Steve M. Gilkeson, the current and long time senior executive officers of Perfection Uniforms.

Steve Olesky, President of Perfection Uniforms, states: “With our new senior debt relationship with the First Capital team, we now have the necessary capital financing availability to pursue the Perfection Uniforms growth strategy aggressively going forward and importantly, the means to realize our full potential. We are very grateful to First Capital and our investors for their support and for their recognition and understanding of our vision for the future growth of Perfection Uniforms.”

Perfection Uniforms, a premium brand of Police, Fire, DNR and EMS uniforms, is known for its innovative product development initiatives which have resulted in a designation as one of Apparel magazine's “Top 50 Most Innovative Companies.” Additionally, Perfection Uniforms has held the Uniform Market's UNIVATOR award for five consecutive years by successfully applying the best that technology has to offer, to enhance uniform image, comfort, and performance.

Steve Gilkeson, CMO, notes: “We will continue to pioneer new concepts such as our groundbreaking eco-responsible MtxEcoSeries uniforms. Furthermore, with this new capital financing commitment by First Capital, we will continue to strengthen our marketing presence to agencies across the US and Canada now that Perfection Uniforms directly controls its marketing and sales functions as transitioned since our purchase of our Company back in August 2010.”

Perfection Uniforms was represented and assisted in this transaction by:

Mark B. Frost of Frost & Co., LLC, a boutique investment banking firm, headquartered in Nashville, Tennessee. Frost & Co. advised Perfection Uniforms and arranged the financing. An affiliate of FrostCo is also a co-owner of Perfection Uniforms.

Tracy A. Powell and Gregory J. Pease of Nashville based law firm Sherrard & Roe PLC, served as counsel to Perfection Uniforms.

First Capital, founded in 1987, is a specialized commercial finance company providing working capital lines of credit to small and medium sized US companies.

Perfection Uniforms LLC


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