Bell, CA and Las Vegas, NV – Individual FoodService (“IFS”), a portfolio company of Kelso & Company (“Kelso”) and a leading distributor of foodservice disposables and janitorial & sanitation (“JanSan”) products, has announced that it will merge with Brady Industries (“Brady”), a leading JanSan distributor, which is headquartered in Las Vegas, NV. Terms of the transaction were not disclosed.
The combination of Brady and IFS will result in one of the largest and most balanced providers of foodservice disposable and JanSan products, with true expertise in its space and revenues divided equally across both product portfolios. The combined enterprise provides numerous benefits, including: the ability to cross-sell more complete and complimentary product portfolios to our customers, further end market and geographic diversification, additional scale, a significant expansion of our distribution footprint with 38 combined facilities, and additional leadership talent and depth.
“We want to welcome Travis Brady and his entire team to the Kelso and IFS family”, commented Kenneth Sweder, Chairman and CEO of IFS. “It is a pleasure to partner with Travis, who will assume a senior role at IFS in addition to maintaining his current role as President of Brady, and to work with such incredible associates across the Brady network. I’ve been fortunate to have known Travis for over a decade and have admired how he built a market leading JanSan and foodservice business. Travis and his team will continue to lead and build Brady, and the Brady brand will remain unchanged. Over time, we will bring together the best of Brady’s and IFS’s capabilities and product offerings for the benefit of our customers.”
“I’m excited to partner with Kelso and IFS”, said Travis Brady, President of Brady Industries. “I look forward to working with Ken and his team to accelerate our growth by combining our resources and expertise, enhancing our national account value proposition, and deploying even more capital in support of acquisition activity. This partnership honors and enhances the 73-year Brady legacy and provides exciting opportunities for the entire Brady team.”
The transaction will be supported with additional equity funding from existing IFS shareholders, led by Kelso.
Sandy Osborne, Managing Director at Kelso, added: “The addition of Brady, combined with the current IFS platform, serves as a meaningful step in creating the leading distributor of foodservice disposables and JanSan products in the United States. The combination brings together two highly reputable market participants with unparalleled customer service, product expertise and operational excellence. We are excited to continue to support Ken and Travis and the IFS and Brady teams as the combined Company continues its growth trajectory, organically and through acquisitions.”
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