Friend Skoler Announces the Acquisition of Jasco by AllHeart
SADDLE BROOK, NEW JERSEY, September 19, 2007 -- Friend Skoler & Co., Inc., a private equity firm that invests in leading companies in the smaller end of the middle market, today announced the acquisition of Jasco Uniform by its portfolio company, AllHeart. The acquisition makes AllHeart the largest direct marketer of medical uniform apparel and supplies to healthcare professionals in the U.S.
Operating the top-ranked AllHeart.com website, AllHeart is the leading e-commerce retailer of medical uniform apparel, medical diagnostic instruments, footwear and accessories to healthcare professionals. Founded in 1970, Jasco is the largest catalog marketer of medical apparel and supplies to healthcare professionals in the U.S.
"The acquisition of Jasco by AllHeart combines two of the leading direct marketers of medical apparel in the United States, and we are excited to support the talented AllHeart and Jasco management teams, including Jasco's prior owners Arthur and David Goldberg, to build a dynamic company and industry leader," said Steven F. Skoler, a Managing Director of Friend Skoler & Co. "AllHeart is well positioned for future growth, especially given the prospects for continued growth in healthcare employment and e-commerce."
Ken Constable, AllHeart's CEO, stated: "AllHeart's acquisition of Jasco unites two leading and growing businesses selling similar products to healthcare professionals through complementary channels. AllHeart’s online and e-mail marketing expertise is an excellent fit with Jasco’s catalog expertise, and the combined customer file is the largest direct marketing database in the industry. The combined scale of the operations will result in improved marketing execution, increased efficiency, and enhanced customer service."
Friend Skoler made its initial investment in AllHeart in November 2006 and invested additional equity in AllHeart to support the acquisition of Jasco.
About Friend Skoler & Co., Inc.
Founded in 1998, Friend Skoler & Co., Inc. is a private equity firm that invests in leading companies in the smaller end of the middle market in partnership with management. FSC typically invests between $10 million and $40 million of equity per transaction and manages Friend Skoler Equity Investors, L.P., a private equity fund with $231 million of capital commitments. A key element of the fund’s strategy is to leverage the firm’s extensive experience as investors in and operators of middle market companies. Friend Skoler is headquartered in Saddle Brook, NJ. For additional information, please visit www.friendskoler.com.
About AllHeart
Headquartered in Camarillo, California, AllHeart operates AllHeart.com, the leading e-commerce site for medical uniform apparel, diagnostic instruments, footwear and accessories to healthcare professionals. The company also markets uniform apparel and supplies for restaurants through AllHeartChefs.com and school uniforms through AllHeartKids.com.
For more information about AllHeart, please visitwww.allheart.com, www.allheartchefs.com, orwww.allheartkids.com.
About Jasco
Headquartered in Vernon Hills, Illinois, Jasco is the largest direct mail marketer of medical uniform apparel, diagnostic instruments, footwear and accessories to healthcare professionals in the United States. Jasco markets to the industry’s most extensive customer database through its direct mail catalogs and e-commerce site.
For more information about Jasco, please visitwww.jascouniform.com.
For additional information, contact:
Hunter McCrossin
Friend Skoler & Co., Inc.
201.712.0075