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Los Angeles, October 29, 2004 –
American Apparel of Los Angeles California, a leading U.S. manufacturer
of apparel, announced today the closing of mezzanine financing
lead by C3 Capital Partners, L.P. of Kansas City, Missouri. Financial
terms of the transaction were not disclosed.
C3 was joined in the financing by Eagle Fund I, L.P., an SBIC fund
managed by Bush O’Donnell Capital Partners of St. Louis
Missouri.
"We are excited about our new
partnership with C3 Capital and Bush O’Donnell. With these
new partners, and our bank lender, U.S. Bank, American Apparel
is financially positioned to continue the significant growth
of its business," said Dov Charney, President and CEO of
American Apparel.
American Apparel manufactures and distributes blank t-shirts and other basic apparel items, such as sweatpants, jackets, and undergarments, to wholesalers, distributors, and screen printers throughout the United States and Canada. American Apparel also operates retail stores throughout the United States and Europe.
“American Apparel is a leading
U.S. apparel manufacturer and represents an excellent investment
opportunity for Eagle Fund,” said Wayne L. Smith, II,
President of Bush O'Donnell Capital Partners. “American
Apparel is a market leader with a management team that has significant
industry expertise and a clear commitment to manufacturing apparel
products in the United States.”
About American Apparel
American Apparel manufactures and distributes blank t-shirts
and other basic apparel items, such as sweatpants, jackets,
and undergarments, to wholesalers, distributors, and screen
printers throughout the United States and Canada. American Apparel
also operates 11 retail stores throughout the United States
and Europe. All of its garments are cut and sewn at its 500,000-square-foot
facility in downtown Los Angeles. For additional information,
visit their website at www.americanapparel.net.
About Bush O’Donnell
Bush O'Donnell is a holding company headquartered in St. Louis
with interests in investment management, insurance, manufacturing
and private equity investments. Since 1988 its principals have
been investing in a wide range of publicly and privately owned
businesses. One of Bush O’Donnell’s wholly owned
subsidiaries, Bush O’Donnell Capital Partners, manages
Eagle Fund I, L.P., a Small Business Investment Company with
committed capital of $75 million. Eagle Fund invests from $1
million to $4 million in the mezzanine debt and equity securities
of companies with compelling business plans.
About C3 Capital Partners
C3 Capital Partners, L.P. is a Small Business Investment Company
with committed capital of over $100 million and offices in Kansas
City and Dallas that provides capital for businesses to finance
later stage growth, strategic acquisitions, ownership transitions,
and recapitalizations. The fund makes $2 million to $10 million
investments in the form of subordinated debt or preferred equity
in established businesses with a history of profitability.
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