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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported):
November 10, 1998
MAC-GRAY CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 011-13495 04-3361982
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
22 Water Street, Cambridge, MA 02141
(Address of principal executive offices and zip code)
(617) 492-4040
(Registrant's telephone number, including area code)
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Item 5. Other Events
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On November 10, 1998, the Registrant issued the press release attached as
Exhibit 99.1 to this Current Report on Form 8-K.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits
Exhibit No. Description
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99.1 Press release announcing the appointment of Michael J. Shea as
Chief Financial Officer and Neil F. MacLellan III as Chief
Operating Officer of Mac-Gray Corporation, dated November 10,
1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: November 13, 1998 MAC-GRAY CORPORATION
By: /s/ Stewart G. MacDonald, Jr.
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Stewart G. MacDonald, Jr.
Chairman and Chief Executive Officer
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release announcing the appointment of Michael J. Shea as
Chief Financial Officer and Neil F. MacLellan III as Chief
Operating Officer of Mac-Gray Corporation, dated November 10,
1998.
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EXHIBIT 99.1
MICHAEL J. SHEA TO JOIN MAC-GRAY AS CFO, NEIL F. MACLELLAN NAMED COO
CAMBRIDGE, Mass. The appointment of Michael J. Shea as executive vice
president and chief financial officer of Mac-Gray Corporation (NYSE: TUC -
news), a leading provider of convenience services including card- and coin-
operated laundry equipment and reprographics equipment, was announced today by
chairman and chief executive officer Stewart MacDonald.
Executive vice president Neil F. MacLellan, who has served as interim chief
financial officer since late August, was named chief operating officer of
Mac-Gray.
Mr. Shea, 48 years old, served until recently as chief financial officer of
A.D.A.P., Inc., a retailer of auto parts. Prior to that he was executive vice
president and chief financial officer of Grossman's, Inc., a building materials
retailer.
Prior to these positions, Mr. Shea worked for Ocean Spray Cranberries, Inc., a
manufacturer and distributor of juice products, where he served as vice
president of logistics for five years and vice president, controller for five
years. A certified public accountant, he also worked for six years at the public
accounting firm of Deloitte-Touche.
"We're delighted to have an executive of Michael Shea's experience and abilities
join our management team," Mr. MacDonald said. "His arrival as CFO will also
enable Neil MacLellan to turn his attention to other areas, and together we will
be working to continue the steady, consistent growth of Mac-Gray's revenues and
profits."
Mr. Shea will join Mac-Gray following the Thanksgiving holiday.
Mac-Gray, founded in 1927, is one of the nation's leading providers of laundry
equipment and service to the multi-housing industry. In March, 1998 it acquired
Intirion Corporation, which produces the MicroFridge(R) family of compact
refrigerators/freezers with microwave ovens. MicroFridge is the leading choice
of college and university housing officers for on-campus installation, and is
used as well on military bases and in assisted-living facilities and the
hotel/motel markets. In April, 1998 Mac-Gray acquired Copico, Inc., the leading
provider of vended reprographics services to the academic and public library
markets in the Northeast and Florida.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts,
such as those dealing with future growth of net earnings and revenues, are
forward looking statements that are subject to change based on various factors
which may be beyond the company's control. Accordingly, the future performance
and financial results of the company may differ materially from those expressed
or implied in any such forward looking statements. Such factors include, but are
not limited to, those described in the company's filings with the Securities
and Exchange Commission.
