About the Transaction
Strauss Paper Company is consistently ranked among the 20 largest distributors of janitorial supplies and equipment in the United States, and is the leading Jan-San distributor in New York City’s commercial office building market. Founded in 1943, the Port Chester, NY based Strauss Paper distributes its line of premier Jan-San products primarily to building service contractors, property management firms, education entities, and healthcare entities throughout the New York Tri-State Area. Led by second generation owners, Stewart Strauss and Joyce Jonap, the customer-centric culture at Strauss Paper has enabled the Company to prosper and grow throughout its 75+ year history becoming a leading regional competitor.
The buyer, Imperial Dade, a subsidiary of Audax Group, is a leading distributor of foodservice packaging, facilities maintenance supplies and equipment across most of the United States and Puerto Rico. Strauss Paper is Imperial Dade’s twenty-second acquisition and allows Imperial Dade to further expand its market share in the New York Tri-State area while adding Strauss’ exceptional customer service and experienced team to the Imperial Dade family as they continue their aggressive growth efforts.
Paramax Corporation’s highly efficient sale process generated strong interest from a number of potential buyer prospects with the entire project being completed in approximately 5 months from initial engagement to closing. Paramax Corporation is a FINRA-registered investment banking firm focused on advising companies and shareholders in sell-side M&A transactions to strategic buyers at after-tax optimized prices. Paramax is headquartered in Williamsville, NY with an International reach through its partnership in Globalscope Partners, a group of international corporate finance and business advisors operating globally to support M&A transactions.
For additional information regarding this transaction, please contact the Paramax deal team and visit: http://www.imperialdade.com/News/Details/85.