The ONE Group, LLC Announces the Joining of Michael Serruya and Richard E. Perlman to Committed Capital Acquisition Corporation’s Board of Directors
NEW YORK-- The ONE Group, LLC (“The ONE Group”), a wholly-owned subsidiary of Committed Capital Acquisition Corporation (“Committed Capital”), (OTCQB:STKS) announced today the joining of Michael Serruya and Richard E. Perlman to Committed Capital’s Board of Directors, which became effective on October 28, 2013 following their appointment in connection with the reverse merger transaction between The ONE Group and Committed Capital on October 16, 2013. Mr. Serruya will serve as non-executive Chairman of the Board.
"We are thrilled to welcome Michael and Richard, who are all outstanding additions to our Board," said Jonathan Segal, CEO of Committed Capital. “Throughout their careers, they have demonstrated great ability in directing financial and executive strategy for both private and public companies across a number of different industries, while making impressive contributions along the way. We are delighted to welcome them and look forward to their insights and contributions which will benefit The ONE Group’s growth and evolution.”
Mr. Serruya is currently Chairman and Co-Chief Executive Officer of privately held Kahala Corp., the parent entity of Kahala Franchising, L.L.C. and one of North America's largest franchisors of quick service restaurant brands. He is co-founder, past Chairman, President, Chief Executive Officer and director of CoolBrands, a consumer company focused on marketing and selling a broad range of ice creams, frozen snacks and fresh yogurt products. Serruya most recently served as President and Chief Executive Officer of CoolBrands until its merger with Swisher Hygiene in November 2010. Mr. Serruya was also President, Chief Executive Officer and Chairman of CoolBrands’ predecessor, Yogen Früz World-Wide Inc. He is currently a director of Jamba, Inc. (Nasdaq:JMBA) and a director and member of the Audit Committee of Response Genetics, Inc.
Mr. Perlman currently serves as Executive Chairman of the Board of ExamWorks, Inc (NYSE: EXAM), a leading provider of independent medical examinations, peer and bill reviews and IME-related services. He previously served as Co-Chairman of the Board, Co-Chief Executive Officer and a director with the company. Perlman is also the President of Compass Partners, L.L.C., a merchant banking and financial advisory firm he founded in 1995 that specializes in middle market companies and corporate restructuring. Mr. Perlman’s prior roles include Chairman and Director of TurboChef Technologies, Inc., a commercial food equipment manufacturer which was acquired by The Middleby Corporation; Chairman of PracticeWorks, Inc., a dental software company acquired by The Eastman Kodak Company in October 2003; and Chairman and Treasurer of AMICAS, Inc. (formerly VitalWorks Inc.), a software company specializing in healthcare practice management, in addition to Director until the completion of the spin-off of PracticeWorks, Inc. Mr. Perlman is on the Advisory Board of The Wharton School Entrepreneurship Program as well as the sponsor of The Perlman Grand Prize for the winner of The Annual Wharton School Business Plan Contest. Mr. Perlman is also a Trustee of the James Beard Foundation.
The appointment of Mr. Serruya and Mr. Perlman as directors of Committed Capital in connection with the reverse merger transaction between The ONE Group and Committed Capital is more fully described in Committed Capital’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 16, 2013.
About The ONE Group
The ONE Group develops and operates upscale, high-energy restaurants and lounges and provides “ONExperience”, a turn-key food and beverage service for hospitality venues including boutique hotels, casinos and other high-end locations in the United States and United Kingdom. The ONE Group’s primary restaurant brand is STK®, which is a unique steakhouse concept with locations in major metropolitan cities throughout the U.S. and in London. STK artfully blends two concepts, the modern steakhouse and a chic lounge, into one offering a high-energy, fine dining experience with the superior quality of a traditional steakhouse. The ONE Group’s food and beverage hospitality services business provides the development, management and operations for premier restaurants and turn-key food and beverage services at high-end boutique hotels and casinos. Additional information about The ONE Group can be found at www.togrp.com.
Cautionary Statement on Forward-Looking Statements
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements, including but not limited to, (1) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with suppliers and obtain adequate supply of products and retain its key employees; (2) changes in applicable laws or regulations; (3) the possibility that the ONE Group may be adversely affected by other economic, business, and/or competitive factors; and (4) other risks and uncertainties indicated from time to time in filings with the SEC by Committed Capital.
Investors are referred to the most recent reports filed with the SEC by Committed Capital. Investors are cautioned not to place undue reliance upon any forward looking statements, which speak only as of the date made, and The ONE Group and Committed Capital undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise.
Don Duffy, ICR
Fitzhugh Taylor, ICR
Phil Denning, ICR
Kristina Jorge, ICR
Source: The ONE Group, LLC
Released October 31, 2013