LOS ANGELES, Calif., April 24, 2001 (PRIMEZONE) -- The sale announced earlier today of Earl Jean Inc., a rapidly growing designer, manufacturer, wholesaler, and retailer of luxury women's jeanswear and related apparel, was fashioned over a period of six months by the Company's investment bank, The Sage Group LLC of Los Angeles.
"This transaction would not have taken place without the commitment, creativity and professionalism of The Sage Group," said Benjamin Freiwald, Chief Executive Officer, and Suzanne Costas Freiwald, Vice President and Director of Design of Earl Jean. "They played a key role in structuring the deal in a way that clearly benefits all the parties."
Earl Jean contacted Sage last November and indicated that it would be willing to entertain acquisition offers. In mid-January, after the market strengthened, Sage began examining a number of potential targets, including several European firms that specialize in high-end labels, before determining that Nautica Enterprises, Inc., offered the greatest opportunities for the future development of Earl Jean.
J.P. Morgan Chase was subsequently brought in as financial advisor to Nautica.
"Ben and Suzanne have done a phenomenal job of building a brand franchise," said Mark Vidergauz, Managing Director and Chief Executive Officer of Sage. "Our challenge was to find an ideal match both in terms of business and culture."
Sage, formed in 2000, is a Los Angeles-based investment bank that focuses on middle-market and emerging growth clients and is dedicated to providing a level of service and professionalism unique amongst its peers. Sage's operations focus on Strategic Advisory Services, and its goal is to build the premier investment-banking firm on the West Coast.
Drawing on the experience of its team, Sage concentrates on a wide range of business sectors: Manufacturing/Industrial; Branded Consumer; Telecommunications; Media & Technology; Business Services; Healthcare Services; and Apparel/Specialty Retail.
Sage's founding investors include entities affiliated with Robert A. Day, founder, Chairman, CEO and a Managing Director of the TCW Group and Chairman and CEO of the W.M. Keck Foundation; Bradford M. Freeman, Founder of Freeman Spogli & Co.; and Rockwell A. Schnabel, Founder of Trident Capital.