Spruce Industries Appoints Chief Financial Officer
Spruce Industries, a family-owned business in the facility supply industry for nearly six decades, announced the appointment of Michael Josephs as an executive vice president and chief financial officer. This move comes as the company looks to amplify its growth strategy amid the rapidly changing landscape of the facility supply sector.
Over his distinguished twenty-five-year career, Josephs has cemented his reputation by transforming companies and forging impactful deals as an investment banker and finance leader. His decision to join the family business is driven by his dedication to the company's mission: “To superserve our customers.”
Josephs commented on the current state of the industry, noting, “Our industry has experienced a massive wave of consolidation in recent years, and many customers feel that they’ve been left behind. I’m excited to bring a disciplined approach to growth that will scale the personal touch that Spruce is known for.”
Spruce Industries has always been synonymous with values like honesty, integrity, and loyalty. These principles have been instrumental in the company’s sustained organic growth. Michael’s addition to the leadership team solidifies the company’s commitment to providing the high-touch service and agile innovation associated with a boutique firm while ensuring the competitive pricing and product range typical of larger enterprises.
Highlighting the dramatic shift in the industry, Josephs stated, "From 25,000 facility supply companies in the U.S. a few years ago, we're down to approximately 1,300 today. Spruce Industries aims to thoughtfully expand, ensuring that our intentional approach remains the same."
In his new role, Josephs will work closely with his father, company president Hank Josephs, and his brother, chief operating officer Dan Josephs. Together with a vibrant and dedicated team, the trio is committed to offering solutions that go beyond mere products, ensuring clients receive unparalleled service.
Spruce Industries celebrates this significant milestone with optimism, looking forward to harnessing Michael's financial acumen and deep strategic insights. As the company embarks on this exciting chapter, it remains committed to its mission, its values, and its dedication to customer service.