Chicago/Dallas – (June 2014) — Madison Street Capital (“MSC”) acted as the exclusive financial advisor in arranging a credit facility for its client, Lampro Partnership dba Levines Department Stores and Levines Family Uniforms(“Lampro”). The transaction was announced today by Charles Botchway, CEO of MSC; the credit facility was provided by Noble Financial Corporation and the transaction was led by Madison Street Capital Managing Director Lester (Jay) Rodgers; Terms of the deal were not disclosed.
“We are very pleased to have been able to step in and help put this facility in place at the right time for our client,” said Jay Rodgers. “This credit facility will provide Lampro with the working capital it needs to continue to provide high-quality goods and services to its growing base of customers.”
This neighborhood institution began almost 100 years ago as the Levines Department Stores in Dallas, Texas and is a family owned business that manages and operates three Levines Department Stores and one Levines Family Uniform retail store. Levines provides clothing apparel, shoes and accessories for the entire family.
The Company acquired its Levines Department Stores from Zale Corporation, a multi business conglomerate, during Levines Department Store liquidation by Schottenstein Stores Corporation in 1977. Prior to Zale Corporation buying Levines Department Store in the 1960’s, Levines Department Stores were owned and operated by the Levine brothers, William and Morris, who founded Levines Department Stores brand in 1920
The department stores also do significant business in branded apparel, accessories and shoes including Dickies, Levi’s, Dickies Girl, Southpole, Stacy Adams, Falcone, Wrangler, US Polo Association, Beverly Hills Polo Club, Converse, Fruit of the Loom, Evolution in Design, etc. Each stores’ apparel categories are separated into different sections and departments on the selling floor. Levines also employs Spanish speaking Sales Associates who are able to establish great customer relationships with Hispanic customers.
About Lampro Partnership/Levines
Levines provides clothing apparel, shoes and accessories for the entire family. The stores offer numerous categories – school uniforms, work uniforms and medical scrubs, sportswear, urban and street fashions, casual wear, dress wear, accessories and shoes. Lampro’s three department stores average 23,000 square feet in size. The Levines Family Uniforms location is 4000 square feet in size and focuses on school uniforms, work uniforms and medical scrubs, limited accessories and shoes. The Company is the only full line, all apparel retail stores in each of the locations in which they operate.
About Madison Street Capital
Madison Street Capital, is an international investment banking firm committed to integrity, excellence, leadership and service in delivering corporate financial advisory services, merger and acquisition expertise, financial opinions, and valuation services to publicly and privately held businesses. These services position our clients to succeed in the global marketplace. In undertaking each new project, the client’s goals and objectives become ours, ranging from financial advisory and successful capital raises to M&A transactions to transfers of ownership. Madison Street Capital views emerging markets as the core component driving the global growth of our clients, and will continue to focus significant assets on these markets. Our firm has earned the trust of clients around the world through our unwavering dedication to the highest levels of professional standards. For additional information, please visit our website at www.madisonstreetcapital.com.