Audax-backed Imperial Dada acquires three companies


Imperial Dade, which is backed by Audax Private Equity, has made three acquisitions: Racine, Wisconsin-based Kranz, a provider of janitorial and sanitary supplies; Willow Grove, Pennsylvania-based PCA Industrial, a distributor of paper, food service disposables and janitorial supplies; and Austell, Georgia-based Sikes Paper, a provider of janitorial supplies, cleaning chemicals, paper disposables and packaging equipment. No financial terms were disclosed.

PRESS RELEASE

Imperial Dade, a portfolio company of Audax Private Equity, announces the acquisitions of Kranz, PCA Industrial, and Sikes Paper, a proorial supplies, cleaning chemicals, paper disposables, and packaging equipment.

THE COMPANIES
Kranz, Inc. (“Kranz”), headquartered in Racine, WI, distributes janitorial and sanitary supplies, primarily to educational institutions and healthcare facilities in the Chicagoland area.

PCA Industrial & Paper Supplies, Inc. (“PCA Industrial”) is a distributor of paper, food service disposables, and janitorial supplies, based in Willow Grove, PA.

Sikes Paper & Chemical Supply, Inc. (“Sikes Paper”), based in Austell, GA, distributes janitorial supplies, cleaning chemicals, paper disposables, and packaging equipment to customers, primarily serving commercial real estate end markets in the greater Atlanta region.

THE DEAL
Imperial Dade, a portfolio company of Audax Private Equity (“Audax”), has completed the acquisitions of Kranz, PCA Industrial, and Sikes Paper, representing the company’s 13th, 14th, and 15th add-on acquisitions under the leadership of Robert and Jason Tillis, CEO and President, respectively. Since Audax’ investment in the company in 2016, Imperial Dade has completed nine acquisitions.

THE THESIS
In 2016, Audax partnered with Imperial Bag & Paper (“Imperial”), a leading regional distributor of food service disposables and janitorial and sanitation (“jan-san”) supplies in the Tri-State area, with the goal of helping grow the company into a national platform. Imperial subsequently acquired Borax Paper Products, Accommodation Mollen, and Peninsular Paper. Imperial’s additional acquisition of Dade Paper in June 2017 expanded the platform to cover the entire East Coast along with the Caribbean and Puerto Rico. The company re-branded itself as Imperial Dade with a distribution presence of over 2 million square feet and 15 facilities. Since the Dade transaction, the Company has completed five add-on acquisitions, which collectively increase Imperial Dade’s density on the East Coast and expand its geographic footprint into the Midwest.

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