Deal Details
Advent Acquires Stake in Imperial Dade
Summary
Advent International ("Advent") announced it has signed a definitive agreement to acquire a significant stake in Imperial Dade from Bain Capital Private Equity (“Bain Capital”). Bain Capital Private Equity, which first invested in Imperial Dade in 2019, and Advent will have joint Board governance. Imperial Dade will continue under the leadership of Robert and Jason Tillis, Chairman and CEO respectively, who remain significant investors in the business alongside the current management team. The terms of the transaction were not disclosed, and the transaction is subject to various regulatory approvals and customary closing conditions.
Baird served as exclusive financial advisor to Advent International on this transaction.
About
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. Advent has invested in over 390 private equity investments across 41 countries, and as of December 31, 2021, had $88 billion in assets under management. Advent has considerable experience in distribution, having previously supported market leaders such as ABC Supply, MORSCO Inc., Distribution International, Rubix and Caldic. With 15 offices in 12 countries, Advent has established a globally integrated team of over 250 investment professionals across North America, Europe, Latin America and Asia.Founded in 1935 and based in Jersey City, New Jersey, Imperial Dade is a leading independently owned and operated distributor of foodservice packaging, facilities maintenance supplies, floor equipment and industrial packaging serving North America, Puerto Rico and the Caribbean. With approximately 6,400 employees, Imperial Dade provides customized supply chain solutions to customers in the foodservice, grocery, hospitality, cruise lines, healthcare, retail, government, facilities maintenance and export market segments. Imperial Dade operates from a network of strategically located distribution centers totaling over 10.2 million square feet of warehouse space across North America and serves more than 90,000 customers.
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity's global team of more than 250 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer & retail, financial & business services, industrials and technology, media & telecommunications. Bain Capital has 22 offices on four continents.
Audax Private Equity, which invested in Imperial Dade in 2016, also continues to be a significant investor in Imperial Dade.
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- Date
- May 2022
- Company
- Advent International
- Transaction
- M&A - Buyside
- Sectors
- Industrial
- Verticals
-
Distribution
Facility, Industrial, Residential & Environmental Services
Food & Beverage
- Target Geography
- North America
- Acquiror Geography
- North America
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