COMPLETED TRANSACTIONS

Miller Stockman

JD Ford & Company represented Miller International, the largest manufacturer of women's western wear in the United States, in the divestiture of Miller Stockman, its retail operation. At the time of JD Ford's engagement, Miller Stockman operated 30 retail stores across the Western U.S., as well as a western wear direct mail catalog. JD Ford evaluated the capital structure and operating results of this employee-owned company (ESOP) and determined that shareholder value could be enhanced if the retail and catalog divisions were sold. Therefore, the directors elected to divest their retail/catalog business. JD Ford assembled the necessary information to package the retail/catalog divisions together as a single transaction and conducted a competitive auction sale of the business. The transaction allowed for a majority of the retail and catalog employees to retain their positions in Denver. The transaction was an asset sale consummated within seven months of JD Ford's hiring date. Subsequent to the divestiture of the retail/catalog divisions, Miller International's core business, the Rocky Mountain Clothing Company, sales have accelerated, profitability of the overall Company has been enhanced and JD Ford continues to serve as their Investment Banker.