SSG Capital Advisors, LLC (“SSG”) acted as the exclusive investment banker to Stacy’s, Inc. (“Stacy’s” or the “Company”) in the sale of substantially all of its assets to an affiliate of Metrolina Greenhouses, Inc. (“Metrolina Greenhouses”). The sale was effectuated through a Chapter 11 Section 363 process and was approved by the Bankruptcy Court. The sale closed in August 2013.

Stacy’s operates as an industry leading wholesale farm and nursery in South Carolina. Founded by Louis Stacy in 1969 as a small greenhouse, the Company has grown its wholesale operations to encompass almost 260 acres. Although the Company is most well-known for its high quality perennials, Stacy’s also produces and markets a wide variety of other plants. Stacy’s offers its products through big-box retail stores as well as a network of independent garden centers and chain stores throughout the U.S. In addition to the slow housing starts over several years and a lack of growth in the wholesale nursery market, Stacy’s principal markets on the east coast were hit with extremely adverse weather conditions during the Company’s peak season. As a result, Stacy’s filed for Chapter 11 Bankruptcy protection in the U.S. Bankruptcy Court for the District of South Carolina in June, 2013.

SSG was retained as Stacy’s investment banker to explore a sale of substantially all of the Company’s assets. SSG conducted a comprehensive marketing process which resulted in a wide range of potential buyers, including multiple strategic and financial parties interested in operating Stacy’s as a going concern business. Metrolina Greenhouses, a strategic buyer with a strong presence in high quality annuals based in North Carolina, was chosen as the stalking horse bidder and ultimately presented the highest and best offer after a thorough remarketing process. SSG’s knowledge of the industry, its experience in running efficient and timely Chapter 11 sales processes and its knowledge of the M&A markets enabled key stakeholders to maximize the value of the assets.

Other professionals who worked on the transaction include:

• Barbara G. Barton, Christine E. Brimm and Adam J. Floyd of Barton Law Firm, P.A., counsel to the Debtor
• Marty P. Ouzts of Ouzts, Ouzts & Varn, P.C., financial advisor to the Debtor;
• Randy A. Skinner of Skinner Law Firm, LLC, counsel for the Louis D. Stacy, Jr. Revocable Trust;
• J. William Porter, Robert C. Byrd and Katie Trotter of Parker Poe Adams & Bernstein, LLP, counsel for the Senior Lender;
• Robert A. Kerr, Jr. of Moore & Van Allen, PLLC, counsel to the Official Committee of Unsecured Creditors; and
• Russell M. Black, Bradley E. Pearce and Angela R. Perry of Katten Muchin Rosenman, LLP, counsel to MG Acquisition, Inc., an affiliate of Metrolina Greenhouses.