Lakeland Industries Appoints Joshua Sletten to Newly Created Corporate Development Post

Rhea-AI Summary

Lakeland Industries (NASDAQ:LAKE) announced the appointment of Joshua Sletten as Vice President of Corporate Development, a newly created role aimed at enhancing the company's mergers and acquisitions strategy. Sletten, who has nearly a decade of experience in investment banking and corporate finance, will oversee the M&A process from opportunity identification to business integration. CEO Charles D. Roberson emphasized that this position is crucial for accelerating market expansion and overall growth, intending to leverage both organic and inorganic growth opportunities.

Positive

• Creation of a new corporate development role indicates a strategic focus on growth.
• Joshua Sletten brings nearly 10 years of relevant experience, potentially enhancing M&A effectiveness.
• Support from an experienced Board of Directors may strengthen execution of growth strategies.

Negative

• None.

DECATUR, AL / ACCESSWIRE / May 26, 2021 / Lakeland Industries, Inc. (NASDAQ:LAKE) (the "Company" or "Lakeland"), a leading global manufacturer of protective clothing for industry, healthcare and to first responders on the federal, state and local levels, today announced that Joshua Sletten has been appointed Vice President of Corporate Development. In this newly created position, Josh will lead the Company's mergers and acquisitions (M&A) strategy and manage the M&A process from identification of growth opportunities, to due diligence and through business integration and synergistic optimization.

Charles D. Roberson, President and Chief Executive Officer of Lakeland Industries, said, "Lakeland's new corporate development position was created to accelerate our market expansion and overall growth strategies. Leveraging his background in corporate finance and mergers and acquisitions, we are very pleased to have Josh join our team to lead the execution of these corporate development activities. We expect M&A to be an important part of our future growth strategy, as we pursue both organic and inorganic opportunities to expand our global platform. Josh will have the backing and support of our highly experienced Board of Directors and our global team of industry leaders. He will also have benefit of groundwork already underway to define the value drivers under which any acquisition or other form of business development would be accretive to our operations, beneficial to our customers, and capable of delivering increased value to our shareholders."

Joshua Sletten brings to Lakeland nearly 10 years of experience in the investment banking industry, M&A, corporate finance and private equity. Mr. Sletten most recently was Vice President, M&A for Craig-Hallum Capital Group in Minneapolis. Craig-Hallum has provided investment banking, corporate services and advisory services to Lakeland since 2014. Earlier, he worked in corporate finance, M&A and analytical business roles for General Mills, The IMAGINE Group and private equity firm ShoreView Industries. He graduated from the University of Minnesota's Carlson School of Management with a BS in Business/Finance.

About Lakeland Industries, Inc.
We manufacture and sell a comprehensive line of industrial protective clothing and accessories for the industrial and public protective clothing market. Our products are sold globally by our in-house sales teams, our customer service group, and authorized independent sales representatives to a network of over 1,600 global safety and industrial supply distributors. Our authorized distributors supply end users, such as integrated oil, chemical/petrochemical, automobile, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical, and high technology electronics manufacturers, as well as scientific, medical laboratories and the utilities industry. In addition, we supply federal, state and local governmental agencies and departments, such as fire and law enforcement, airport crash rescue units, the Department of Defense, the Department of Homeland Security and the Centers for Disease Control. Internationally, we sell to a mixture of end users directly, and to industrial distributors depending on the particular country and market. Sales are made to more than 50 countries, the majority of which were into the United States, China, the European Economic Community ("EEC"), Canada, Chile, Argentina, Russia, Kazakhstan, Colombia, Mexico, Ecuador, India, Uruguay and Southeast Asia.

For more information concerning Lakeland, please visit the Company online at www.lakeland.com.

Contacts:
Lakeland Industries, Inc.
256-445-4000
Allen Dillard
aedillard@lakeland.com

Darrow Associates
512-551-9296
Jordan Darrow
jdarrow@darrowir.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Forward-looking statements involve risks, uncertainties and assumptions as described from time to time in Press Releases and Forms 8-K, registration statements, quarterly and annual reports and other reports and filings filed with the Securities and Exchange Commission or made by management, as well as the uncertain impact of the COVID-19 pandemic. All statements, other than statements of historical facts, which address Lakeland's expectations of sources or uses for capital or which express the Company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. As a result, there can be no assurance that Lakeland's future results will not be materially different from those described herein as "believed," "projected," "planned," "intended," "anticipated," "estimated" or "expected," or other words which reflect the current view of the Company with respect to future events. We caution readers that these forward-looking statements speak only as of the date hereof. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events conditions or circumstances on which such statement is based.

SOURCE: Lakeland Industries, Inc.

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FAQ

What is the new role of Joshua Sletten at Lakeland Industries?

Joshua Sletten has been appointed Vice President of Corporate Development, focusing on the company's mergers and acquisitions strategy.

How does Joshua Sletten's experience benefit Lakeland Industries?

Sletten brings nearly 10 years of experience in investment banking and M&A, which may enhance Lakeland's corporate development activities.

What are Lakeland Industries' growth strategies after appointing Joshua Sletten?

Lakeland aims to accelerate market expansion through both organic growth and strategic acquisitions under Sletten's leadership.

When was Joshua Sletten appointed at Lakeland Industries?

Joshua Sletten was appointed Vice President of Corporate Development on May 26, 2021.