Broder Bros. Division: Phoenix Management Services, Phoenix Capital Resources Client Broder Bros., Co. is the largest distributor of trade, private label and exclusive apparel brands to the imprinting, embroidery and promotional product industries. The Company operates eight distribution centers across the U.S. Problem With support of its equity sponsor, the Company embarked on a roll-up strategy that entailed the acquisition of a number of companies in its industry that was financed, in part, by a $225 million public bond offering. While the roll-up strategy was successful, it left Broder with legacy costs that negatively impacted its current financial performance. The Company’s financial difficulties were exasperated by the economic downturn that caused further decline in its revenue and

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