Shoe Sensation
Background
Founded in 1974, Shoe Sensation is a leading branded footwear retailer that operates a 65-store chain in small towns in eleven Midwest and Mid-Atlantic states. Shoe Sensation was purchased from Acton Enterprises, a privately held company in December 2007. CGP partnered with Palisade Capital Management on the transaction.
Strategy
The owner/founder of Acton Enterprises had expanded into several other businesses over the years and was interested in selling Shoe Sensation in order to focus on these other businesses. The founder was acting as CEO of the Company, but had added a strong President in charge of day-to-day operations several years ago. CGP assessed the opportunity, developed the investment rationale, partnered with an institutional private equity investor and recruited a seasoned industry executive to become CEO of the Company. This executive Tom Slover was previously President of Foot Locker Europe and had the merchant and operational skills necessary to effectively grow the Company. CGP is actively involved in assisting management to implement best practices throughout the organization and to execute the long-term strategic plan.
Involvement
Richard Baum serves as a Board Observer and Executive Committee member.
Transaction Announcement
To review the announcement, please click on the following link: Shoe Sensation