Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised Brady Industries
(Brady), a portfolio company of A&M Capital Partners (AMCP), on
its sale to Individual FoodService (IFS), a portfolio company of
Kelso & Company (Kelso). Brady is a full-line janitorial
supply, equipment and foodservice distributor. The transaction was
led by Bob Baltimore, Graham Gillam, Pete Morgan and Maury Nolen of
the Harris Williams Specialty Distribution Group.
“The combination of Brady and IFS creates a leading distributor
of foodservice disposables and JanSan products within a specialty
distribution industry with strong investor interest for high
quality assets,” said Bob Baltimore, a managing director at Harris
Williams. “Brady and IFS now bring together two companies that
stand out for their customer service, immense product expertise,
operational excellence and devoted leadership teams.”
“It was a pleasure working with the teams at Brady and AMCP
during this transaction,” added Graham Gillam, a director at Harris
Williams. “We look forward to seeing what Brady accomplishes in
partnership with IFS during this next chapter of growth.”
Brady has been pioneering the way products and solutions are
delivered to cleaning and foodservice professionals since 1947. At
the heart of Brady’s operation is a community-minded culture driven
by a workforce of more than 500 employees currently in 26 locations
throughout Arizona, Arkansas, California, Colorado, Idaho, Kansas,
Maryland, Missouri, Nevada, New Mexico, Oklahoma, Texas, Tennessee,
Utah and Washington, D.C., including its original Las Vegas
headquarters. Brady’s approach to partnership is unique by
providing integrated customer support, expertise, technical support
and service across a full spectrum of customer needs including
extensive facility offerings, complete dish machine and laundry
machine service, equipment sales, rentals and service, and
foodservice supplies. Brady provides these specialized solutions
for customers in key commercial market segments including
hospitality, education, healthcare, government, building service
contractors and more.
AMCP is Alvarez & Marsal Capital’s flagship investment
strategy focused on middle market control transactions in North
America with total assets under management of $1.8 billion. AMCP
has a strong and referenceable track record of serving as a trusted
partner to founders, corporates and management teams, providing the
capital and strategic assistance required to take businesses to the
next level of success. AMCP invests in businesses across a wide
range of sectors including business services, industrials,
manufacturing, food and beverage, healthcare, consumer and retail,
government services, financial services, and energy services.
Headquartered in Bell, California, IFS distributes paper,
plastic, packaging, food, janitorial, sanitation and smallware
products to restaurants, healthcare facilities, hospitality
establishments, schools and universities, government institutions,
wholesalers, food processors, and foodservice management
institutions. Since its early beginnings as one of the very first
Dixie cup distributors in Southern California, IFS has dedicated
itself to offering a broad and unique array of goods at competitive
prices with a heavy emphasis on integrity, while providing clients
with excellent, honest service through comprehensive industry,
product and supply chain expertise.
Kelso is one of the oldest and most established firms
specializing in private equity investing. Since 1980, Kelso has
invested over $15 billion of equity capital in 130 transactions.
Kelso was founded by the inventor of the Employee Stock Ownership
Plan (ESOP) and, as a result, the principles of partnership and
alignment of interest serve as the foundation of the firm’s
investment philosophy. Kelso benefits from a successful investment
track record, deep sector expertise, a long-tenured and stable
investing team, and a reputation as a preferred partner to
management teams and corporates. Kelso has significant experience
investing in distribution, having deployed over $2 billion of
equity capital in the sector. The firm is based in New York.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
Harris Williams’ Specialty Distribution Group has experience
across a variety of sectors, including automotive and heavy duty
aftermarket; building products; consumer; electrical and
communications; foodservice; healthcare; industrial; and
technology. For more information on the firm’s Specialty
Distribution Group, visit the Specialty Distribution Group’s
section of the Harris Williams’ website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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For media inquiries, please contact Julia Moore at
media@harriswilliams.com.
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