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Bain Capital to acquire Imperial Dade

02 May 2019 4:59 PM | IJCSA - (Administrator)

Press Release: Bain Capital announced it has agreed to acquire a majority stake in Imperial Dade, a distributor of disposable food service and janitorial supplies with headquarters in Jersey City.

Imperial Dade will continue to be led by its current management team, who will remain significant investors in the company. Financial terms of the private transaction were not disclosed.

Founded in 1935, Imperial Dade serves more than 40,000 customers through a footprint of 27 branches operating in 13 states and has a growing a network of strategically located distribution centers with over 620 fleet vehicles. The company has grown both organically and by acquisition to become a leader in the disposable food service and janitorial supplies industry.

“We are pleased to welcome an experienced investment partner who shares our vision for building Imperial Dade into a national distributor of foodservice and janitorial supplies, and who will support our efforts to seize the many opportunities we see in the marketplace,” said Robert Tillis, Chief Executive Officer of Imperial Dade.

“With Bain Capital’s extensive resources and experience with industrial distribution businesses, we are excited to drive our next phase of growth and continue to strengthen our value proposition and service offering,” said Jason Tillis, President of Imperial Dade.

The transaction is supported by fully committed debt financing. It is expected to close during the second quarter of 2019 and is subject to customary closing conditions and regulatory approvals.

Harris Williams is serving as M&A advisor, and Ropes & Gray LLP is serving as legal advisor to Imperial Dade. Credit SuisseBarclays, and Goldman Sachs & Co. are serving as financial advisors, Kirkland & Ellis is serving as legal counsel, and PwC as accounting advisor to Bain Capital Private Equity.

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