Brady Merges With Individual FoodService
Individual FoodService (“IFS”), a portfolio company of Kelso & Company and a distributor of foodservice disposables and jan/san products, has announced that it will merge with Brady Industries. Terms of the transaction were not disclosed in the press release announcing the agreement.
The combination of Brady and IFS will result in one of the largest and most balanced providers of foodservice disposables and jan/san products, with 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 complementary product portfolios to customers, further end market and geographic diversification, additional scale, a significant expansion of 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,” said Kenneth Sweder, chairman and CEO of IFS, in the press release. “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 jan/san 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.”
The transaction will be supported with additional equity funding from existing IFS shareholders, led by Kelso.
“The addition of Brady, combined with the current IFS platform, serves as a meaningful step in creating the leading distributor of foodservice disposables and jan/san products in the United States," said Sandy Osborne, managing director at Kelso. "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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