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Alex Apparel Group Acquired by Affiliates of Versa Capital Management

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Alex Apparel to Drive Growth With its Continuing Commitment To
Providing Women the Highest Quality Eveningwear at Great Values

PHILADELPHIA–(BUSINESS WIRE)–Versa Capital Management, LLC (“Versa”) announced today that an
affiliate has acquired Alex Apparel Group (“Alex Apparel”), a leading
designer and wholesaler of better- and moderate-priced social dresses
and separates under the Alex Evenings, SL Fashions and Ignite Evenings
brands, from Atlantic Street Capital.

The Alex Apparel Group brands, known for their elegant, classic styling,
combined with consistent fit and comfort, are sold both online and in
over 3,400 retail locations, including major department stores,
specialty store chains and boutiques and pure-play ecommerce sites.

Colleen Kelly, Chief Executive Officer of Alex Apparel, said: “We are
excited to partner with Versa to continue the strong trajectory of our
business. Versa provides us with the tools and resources to advance our
strategy underpinned by our longstanding commitment to providing women
with high quality classic-social eveningwear that accentuates their
beauty.”

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“We are very pleased to invest alongside management in this promising
market leader in a specialized, attractive product category,” said Greg
Segall, CEO of Versa Capital. “Over the past several years, Colleen and
her team have been repositioning Alex’s brands, improving product
design, growing existing customer revenue and implementing best
practices in sourcing and production. We look forward to working with
the Alex Apparel team to capitalize on the numerous growth opportunities
from increased direct engagement with end-customers, greater sales
channel diversification, and potential strategic acquisitions.”

About Versa Capital Management, LLC

Versa Capital Management, LLC is a private equity investment firm
focused on control investments in special situations involving middle
market companies and their management teams. Versa focuses on businesses
in a diverse array of industries where value and performance growth can
be achieved through enhanced strategic, operational and financial
management. For more information, please visit www.Versa.com.

About Alex Apparel

Alex Apparel designs, sources and distributes branded eveningwear
dresses and separates to the better- and moderate-priced segment of the
women’s apparel industry. The company’s classic designs are sold under
the Alex Evenings, SL Fashions and Ignite Evenings brands and are
distributed online and in over 3,400 leading department stores and
specialty boutiques nationwide. Visit www.alexevenings.com.

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About Atlantic Street Capital

Atlantic Street Capital is a private equity firm that invests in middle
market companies with between $4 million and $15 million in EBITDA. The
firm invests in fundamentally sound companies that will benefit from
capital investment and value-adding strategic and operational
initiatives. Atlantic Street Capital’s investment team are hands-on
investors who work closely with management to unlock their business’
underlying value and help them succeed. For more information visit www.atlanticstreetcapital.com.

Contacts

Media Contacts:
Abernathy MacGregor
Chuck Dohrenwend, [email protected],
212-371-5999
JP Letourneau, [email protected],
212-371-5999

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