CCMP has closed its previously announced buy of a controlling stake in West Palm Beach, Florida-based Shoes for Crews, a maker of slip-resistant footwear. No financial terms were disclosed. As part of the deal, The Smith family, founders of Shoes for Crews, has rolled over a portion of their equity.
NEW YORK and WEST PALM BEACH, October 27, 2015 — CCMP Capital Advisors, LLC (“CCMP”) today announced that affiliates of CCMP have successfully completed the acquisition of a controlling interest in Shoes For Crews, the global leader in slip-resistant footwear. The Smith family, founders of the company, rolled over a portion of their equity as part of the transaction.
Founded in 1984, Shoes For Crews has a unique rubber compound to produce slip-resistant footwear, significantly reducing slip-and-fall accidents. Through its superior technology, the company quickly became the industry leader and now supplies slip-resistant footwear to 92 of the top 100 largest restaurant chains in the U.S. Shoes For Crews strives to create a safer workplace in all industries where floor hazards are a reality and has a diverse customer base including leading companies in the foodservice, industrial, healthcare and hospitality sectors.
About CCMP Capital
CCMP Capital Advisors, LLC specializes in middle market buyouts and growth equity investments of $100 million to $500 million in North America and Europe. CCMP focuses on generating alpha 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. Selected investments under management include: Shoes For Crews, PQ Corporation, Eco Services, Jetro Cash & Carry, The Hillman Group, Jamieson Laboratories, Pure Gym, Ollie’s Bargain Outlet, Milacron, Newark Energy, Infogroup, Chaparral Energy and LHP Hospital Group.