SBJ buys Armor Express

Spanos Barber Jesse & Co. has acquired Michigan-based Central Lake Armor Express, a maker of hard and soft body armor, helmets and other accessories for law enforcement, military and correctional personnel. No financial terms were disclosed for the transaction that was done with family office Generations Management.

PRESS RELEASE

San Francisco, CA: Spanos Barber Jesse & Co. (“SBJ”), a San Francisco Bay Area and Dallas based private investment firm, announced today that it has acquired Central Lake Armor Express (“Armor Express” or the “Company”) in partnership with Generations Management (“Generations”), a family office based in Traverse City, Michigan.

Headquartered in Central Lake, Michigan, Armor Express designs, develops, manufactures and distributes a full line of high performance hard and soft body armor, helmets and other accessories for law enforcement, military, correctional and other tactical personnel. The brand is built on over 40 years of heritage and has a reputation for superior performance, comfort and service with its customers and network of distributors.

“All of us at Armor Express are thrilled to be partnering with SBJ and Generations as we enter this new phase of growth,” said Matt Davis, Founder & CEO of Armor Express. “We are well positioned to continue expanding the business while delivering the highest quality body armor and other public safety products to our customers.”

“Armor Express has a tremendous opportunity to leverage its unmatched brand heritage to continue growing across all of its channels of distribution while delivering these critical products that protect the people who protect us,” said Tom Barber, Managing Director at SBJ. “We are excited to partner with Matt Davis, the Armor Express team and Generations Management at this important inflection point for the Company.”

Keith Nielson, Principal at Generations Management, added, “This investment is particularly meaningful to us, as we have followed the Company’s success for many years, and are proud to participate in an acquisition that will keep manufacturing jobs in Northern Michigan.”

About Spanos Barber Jesse & Co.
Spanos Barber Jesse & Co. (“SBJ”) is a private investment firm with offices in the San Francisco Bay Area and Dallas that invests in U.S.-based lower middle-market consumer, business services and healthcare services companies. SBJ has the flexibility to invest equity or debt in control or non-control situations to finance buyouts, recapitalizations, acquisitions and growth. Founded by a team of professionals with over 60 years of experience growing companies as investors, executives and advisors, SBJ draws on the operating experience and domain expertise of its team to support the strategic goals of its partner companies. For more information, please visit www.sbjcap.com.

About Generations Management
Generations Management is a traditional single family office with varied interests including oil and gas, home building, manufacturing, retail, venture capital, private equity, securities and futures trading and real estate. Generations seeks to combine capital with proven management teams who have the vision, expertise and commitment to successfully grow businesses. For more information, please visit www.generationsmgmt.com.

About Armor Express
With headquarters in Central Lake, MI and a nationwide network of sales representatives, Central Lake Armor Express, Inc. (“Armor Express”) is a leading manufacturer, distributor, and developer of concealable and tactical hard and soft body armor and accessories. The Company’s uncompromising focus on protection, comfort, and service is recognized across the industry and Armor Express vests are worn by leading state and government law enforcement agencies as well as every division of the U.S. military. For more information, please visit www.armorexpress.com.