Interline acquires JanPak
Interline Brands has entered into an agreement to acquire JanPak Inc. for $82.5 million in cash.
The acquisition is expected to close before the end of this year and will be financed with borrowings under Interline's existing senior credit facility.
Founded in 1945 and headquartered in Davidson, N.C., JanPak is a regional distributor of janitorial and sanitation supplies and packaging products. JanPak primarily serves property management and building service contractors as well as manufacturing, healthcare and educational facilities through 17 distribution centers across the Southeast and South Central United States. In the most recent 12 month reporting period, the company generated approximately $232 million of sales, approximately $2.2 million of net income.
"I am excited to welcome JanPak into the Interline family. JanPak is a well-run business with a deep and talented team that has built a leadership position in the Southeast JanSan market," said Michael J. Grebe, Interline's chairman and chief executive officer. "This acquisition represents another step forward in our strategy to expand our footprint and scale in the stable and attractive institutional market, and further enhances our position as the largest national, broad-line JanSan platform in the United States. Importantly, this transaction provides us with the opportunity to bring significant value to our stakeholders by expanding our product and customer portfolio, enhancing our competitive position, and driving meaningful synergies over time."
Tim Feeheley, president of JanPak commented, "By bringing together JanPak's core values and culture, along with our problem-solving and product system capabilities, with Interline Brands' larger product offering, scale, platforms, and systems, I am confident that we will deliver to our customers even broader capabilities and enhanced service."
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
