NEW YORK, October 21, 2005 – Bruckmann, Rosser, Sherrill & Co. (“BRS”) announced today the completion of the acquisition of Levtran Enterprises, Inc. (“Levtran” or the “Company”). The Levtran management team, CapitalSource Finance and Golub Capital also participated in the transaction.
Levtran, based in Hanover, Maryland, is a lifestyle retailer targeting the young urban male. As of October 21, 2005, the Company operated 44 stores under the “Downtown Locker Room” and “DTLR” brands and one outlet store. Levtran operates in the Baltimore, Washington D.C., Richmond, Norfolk, Atlanta and North Carolina markets. The Company offers footwear (approximately 67% of sales), apparel and accessories (approximately 32% of sales) and music CDs (approximately 1% of sales). Levtran’s strategy is to cater specifically to young urban males and to focus on providing a shopping experience that this consumer cannot find in mainstream retail outlets.
BRS is a New York based private equity investment firm with approximately $1.2 billion under management. BRS was founded in 1995 and has since invested in over 25 companies in the following industries: restaurants, consumer goods, specialty retail, recreation/leisure, apparel, home furnishings, industrial and commercial services, commercial equipment manufacturing, wholesale distribution and healthcare services. BRS makes leveraged buyout, recapitalization and growth capital investments in companies with superior management, predictable cash flow, strong market share and growth potential. All management teams of BRS companies are equity investors in their businesses.