Tuesday, August 14, 2018
Business

Superior Uniform Group rebrands as Superior Group of Companies

SEMINOLE ó Superior Uniform Group does more than just uniforms. And itís rolling out a new name to let people know that. The Seminole-based public company will now be called "Superior Group of Companies" to better encompass its subsidiariesí offerings.

"We found ourselves so diversified today that it was muddling our message with not only with our customers but with potential investors," CEO Michael Benstock said. "They couldnít understand why underneath a company called ĎSuperior Uniform Groupí there was a call center and a promotional business."

Among Superiorís divisions are branding companies (Bamko, Tangerine Promotions and Public Identity), call centers (The Office Gurus) and uniforms (Fashion Seal Healthcare, HPI Direct and CID Resources).

While the firm is already using the new name, a full roll-out will take another few months. It is still "Superior Uniform Group" on the Nasdaq Stock Market.

The firm has expanded significantly in recent years. Just last month, it acquired Texas-based CID Resources for $88.4 million. At the end of 2017, it acquired Tangerine Promotions, a promotional products company, for $7.2 million in cash, $2 million in Superior stock that will vest over four years, and a possible $5.5 million future payment pegged to performance through 2021.

Related coverage: Superior Uniform Group buys Chicago firm to grow its retail promotions business>

And not long before that, Superior acquired PublicIdentity Inc., a branded merchandise company previously based at the time in Los Angeles. It specialized in college merchandize, including Florida colleges such as the University of Tampa, Florida Gulf Coast University, Florida Institute of Technology and Florida International University.

Related coverage: Superior Uniform acquires Los Angeles-based PublicIdentity>

Benstock said the companyís growth isnít expected to slow any time soon. "We intend to be a much bigger company in the future," he said.

Part of that growth will be in Tampa Bay. Its call center subsidiary, The Office Gurus, is the fastest-growing part of Superiorís portfolio in terms of head count, jumping to 150 employees in four years.

But the lack of available entry-level workers in Tampa Bay, he said, is hindering growth in the area slightly. The low unemployment rate means fewer workers are available for hire. To compensate, Benstock said, the company adds workers in other offices.

"We might take some of the more entry level jobs and move them to El Salvador and promote people to higher level jobs in Tampa Bay," he said.

Superiorís stock closed at $24.32 per share Friday, down less than 1 percent. The company has about 300 employees in Tampa Bay, 150 in the uniforms division and 150 in call centers.

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Contact this reporter at [email protected] or (727) 892-2249. Follow @malenacarollo.

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