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Kelso Acquires Majority Share of Individual FoodService
Tuesday 22 October 2019

22 October 2019 - New York, US-based Kelso and Company has agreed to acquire a majority equity interest in California, US-based Individual FoodService (IFS), a distributor of food service disposables and janitorial and sanitation products, the company said.
Terms of the transaction were not disclosed.
IFS said Kelso's distribution experience, history of growing platforms and financial support will help the company execute its core business strategy, pursue acquisitions, and add resources that will strengthen its service offering.
Individual FoodService distributes paper, plastic, packaging, food, janitorial, sanitation and smallware products to independent restaurants, quick service restaurants, healthcare facilities, hospitality establishments, country clubs, schools, universities, government institutions, wholesalers, food processors and foodservice management institutions.
Kelso is one of the oldest and most established firms specialising in private equity investing.
Since 1980, Kelso has invested over USD 13bn of equity capital in 127 transactions.
Kelso has experience investing in distribution, having deployed over USD 1.5bn of equity
Lincoln International LLC and Holland and Knight LLP advised Sole Source Capital and IFS in connection with the transaction. Current Capital Partners LLC and Debevoise and Plimpton LLP advised Kelso in connection with the transaction.
Date Published: 22/10/2019
Target: Individual FoodService (IFS)
Country: USA
Sector: Construction/Real Estate
Type: Corporate acquisition
Status: Agreed
Buyer: Kelso and Company
Buyer Advisor: Current Capital Partners , Debevoise and Plimpton
Terms of the deal were not disclosed