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Sun Capital Partners acquires Gordmans

19
Sep '08
Sun Capital Partners Inc announced that one of its affiliates has acquired Gordmans Inc, an Omaha-based apparel and home fashions retailer with 65 stores in 16 Midwestern states from Colorado to Indiana and North Dakota to Oklahoma. Gordmans is a full-line, value-priced retailer with consistent everyday low prices.

Its stores carry a large assortment of name brand apparel for all ages, accessories, footwear, gifts, designer fragrances, fashion jewelry, accent furniture, home fashions and more, all at savings of up to 60% off department store and specialty retailer prices. Terms of the acquisition were not disclosed.

Brian J. Urbanek, Vice President, Sun Capital Partners Inc, commented, “We are pleased to add Gordmans to our growing portfolio of retail affiliates, which includes controlling ownership interests in sixteen direct marketers; department stores; grocery, pharmacy, and convenience stores; and specialty and apparel retailers. We are looking forward to working with the management team and the Company's dedicated associates in achieving their objectives of profitable growth.”

Jeff Gordman, Chairman and CEO, Gordmans Inc, added, “We are very proud of the growth and success that Gordmans and its predecessor entities have enjoyed over the last 90 years and have determined that the best path going forward is to join forces with Sun Capital Partners, a financial sponsor with deep operating experience in several retail sectors. We are confident that our new partnership will allow Gordmans to fully realize its growth potential and expand its existing footprint.”

Harris Williams & Co. acted as the exclusive advisor to the Special Committee of the Independent Board of Directors for Gordmans Inc.

Sun Capital Partners Inc


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