In July 2004, Advent led the $120 million minority recapitalization of Shoes For Crews (SFC), the leading U.S. designer and marketer of non-slip footwear for the restaurant and foodservice industry.
Founded in 1984, SFC developed a unique compound to produce non-slip shoes which drastically reduces slip-and-fall accidents and has a proven track record of reducing workers' compensation claims.
Throughout Advent’s investment, SFC continued to perform well. As a result of a re-engineering of the supply chain, SFCsaw a 10% reduction in gross margins. The company has also enjoyed double-digit growth from further penetration of its existing customer base and entry into new markets.
SFC was acquired by AEA Investors in July 2010.