Shoes For Crews, a slip-resistant footwear brand, announced Thursday that CCMP Capital Advisors will acquire a controlling interest in the company. Shoe For Crew’s founders Matt and Stan Smith will rollover a portion of their equity as part of the transaction. The deal will close in the fourth quarter of 2015.
Founded in 1984, Shoes For Crews supplies slip-resistant footwear with its unique rubber compound to 92 of the 100 largest restaurant chains in the US, including McDonald’s, Burger King, Taco Bell, as well as Nestle, Tyson and HCR ManorCare. Its styles span clogs and workboots to dress heels and boat shoes.
In a press release, CCMP Managing Director Rich Zannino said, “We are very excited to be partnering with Stan and Matt Smith on this acquisition and look forward to working with them and their highly talented team to build upon the strong platform that they have created.”
He added, “Shoes For Crews has a compelling value proposition and long-standing customer relationships, industry-leading proprietary technology, a unique business model, strong financial profile and numerous avenues to drive growth. We are confident that Shoes For Crews will continue to create safer workplaces and add value for customers, employees and stakeholders.”