New York, October 6, 2006 – totes»Isotoner Corporation (“totes” or the “Company”), a Portfolio Company of Bruckmann, Rosser, Sherrill & Co. (“BRS”) and a leading designer, distributor and retailer of high-quality, branded umbrellas, gloves, hats, scarves, rubber footwear and slippers, acquired the ESNY assets from E.S. Originals, Inc. ESNY, based in New York, is leading a provider of branded and private label casual footwear such as sandals, flip-flops, thongs and slippers to department stores, national chains and mass merchants. Terms of the transaction were not announced. Concurrent with the purchase of the ESNY assets discussed above, BRS recapitalized totes. GE Capital Markets underwrote a $65.0 million senior secured revolving credit facility and an $80.0 million senior secured term loan. Proceeds from the GE loans were used to fund the acquisition of ESNY, redeem all of the Company’s Series A Preferred Stock and accrued dividends (principally held by BRS), refinance existing indebtedness and pay fees and expenses.
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 more than 40 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.