Chatsworth, CA & New York, NY, July 5, 2016 – Strategic Partners, Inc. (“SPI” or the “Company”), a leading designer and distributor of workplace uniforms, footwear and accessories sold across all retail channels, announced today that it has partnered with New Mountain Capital, a growth-oriented investment firm that currently manages over $15 billion of private equity, public equity and credit assets. New Mountain is investing alongside senior management, who founded the business over 20 years ago.
Strategic Partners designs, sources, markets and distributes high-quality uniforms, footwear and accessories to various types of retailers, with its products available in over 50 countries, as well as online. The Company is the leading provider of medical scrubs sold through retail to healthcare personnel with several of the industry’s most recognized brands. SPI also is a leading licensing partner for uniforms. SPI’s brands are consistently recognized as market leaders in quality, comfort, and innovation. Through SPI’s state-of-the-art infrastructure, the Company benefits from a flexible and scalable sourcing model, ensuring reliable service for its customers. SPI complements this network with an industry-leading breadth of product offering, providing unparalleled convenience and value to its partners.
“The SPI team has developed a proven growth strategy and we are excited to put additional resources behind this strategy to grow and expand the business,” said Mat Lori, Managing Director at New Mountain Capital. “We look forward to working closely with management over the coming years to support the realization of the Company’s full potential by investing in growth and supporting new strategic initiatives that capitalize on SPI’s customer relationships, scalable infrastructure and management capabilities.”
“New Mountain is the ideal partner to help SPI achieve the next level of growth,” said Mike Singer, Chief Executive Officer of SPI. “New Mountain has a long track record of supporting business building, and we will have significant resources to achieve our strategic objectives. We look forward to our partnership and the benefits it will yield for our retail partners, end consumers and employees.”
UBS and Kirkland & Ellis acted as advisors to New Mountain Capital.
About Strategic Partners
Strategic Partners, Inc. is a leading designer, marketer, and distributor of high-quality uniforms, footwear and accessories to retailers. The company currently manufactures products through multiple brands. SPI distributes its product globally into more than 50 countries and serves a diverse base of retailers across multiple channels, including specialty retail, mass retail, and online. SPI is headquartered in Chatsworth, California and manages operations through a centralized distribution center in Dallas, TX with a global sourcing model. The combination of its geographic footprint, coupled with an expansive item profile, enables SPI to quickly and efficiently meet the needs of its valued customers.
About New Mountain Capital
New Mountain Capital is a New York-based alternative investments firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $15 billion in aggregate capital commitments. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.
Chief Executive Officer
Strategic Partners, Inc.
9800 De Soto Avenue, Chatsworth, CA 91311
Phone: (818) 671-2100