Bell, California-based Individual FoodService (IFS) — a portfolio company of the private equity firm Kelso & Co. and a distributor of foodservice disposables and JanSan products — has announced that it will merge with Brady Industries, a Las Vegas-based JanSan distributor. Financial terms of the deal were not disclosed.
According to the companies, “the combination of Brady and IFS will result in one of the largest and most balanced providers of foodservice disposables and JanSan products, with true 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 our customers, further end market and geographic diversification, additional scale, a significant expansion of our 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. “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 JanSan 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.”
Added Travis Brady, president of Brady Industries: “I’m excited to partner with Kelso and IFS. I look forward to working with Ken and his team to accelerate our growth by combining our resources and expertise, enhancing our national account value proposition, and deploying even more capital in support of acquisition activity. This partnership honors and enhances the 73-year Brady legacy and provides exciting opportunities for the entire Brady team.”
Brady itself has been acquisitive of late, adding four companies to its portfolio in the last five months.
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