Lincoln International Advises United Stationers Inc. in the $184 million Acquisition of ORS Nasco Holding, Inc.
CHICAGO, Illinois January 2, 2008 - United Stationers Inc.'s ("United Stationers") wholly owned subsidiary, United Stationers Supply Co., has acquired ORS Nasco Holding, Inc. ("ORS Nasco") from an affiliate of Brazos Private Equity Partners, LLC and other shareholders for approximately $184 million. The all-cash purchase price was approximately $178 million plus $6.5 million related primarily to future tax benefits to United Stationers as a result of ORS Nasco stock options being exercised. Lincoln International acted as the exclusive financial advisor to United Stationers in the transaction.
Headquartered in Muskogee, Oklahoma, ORS Nasco is a pure wholesale distributor of industrial supplies, with annual sales of approximately $285 million. The company sells exclusively to independent distributors, offering them about 200,000 premium branded and private label products from over 600 manufacturers. ORS Nasco sells to more than 10,000 independent distributors in multiple channels, including industrial, maintenance, repair and operations ("MRO"), safety, construction, welding, and oilfield services. The company serves a very diverse customer base through eight distribution centers strategically located across the U.S.
The acquisition of ORS Nasco builds on Lincoln International's strong industrial distribution and business services experience. The Lincoln International transaction team worked closely with United Stationers' senior management to evaluate the acquisition and provide key valuation and negotiation assistance.
About United Stationers
United Stationers is North America's largest broad line wholesale distributor of business products, with net sales for 2006 of $4.5 billion. The company's network of 62 distribution centers allows it to offer nearly 46,000 items to its approximately 20,000 reseller customers. This network, combined with United Stationers' depth and breadth of inventory in technology products, traditional business products, office furniture, janitorial and breakroom products, and foodservice consumables, enables the company to ship products overnight to more than 90% of the U.S. and major cities in Mexico. United Stationers' focus on fulfillment excellence has given it an average line fill rate of better than 97%, a 99.5% order accuracy rate, and a 99% on-time delivery rate. For more information on United Stationers, please visit www.unitedstationers.com.
About ORS Nasco
ORS Nasco is a pure wholesale distributor of industrial supplies, with annual sales of approximately $285 million. The company sells exclusively to independent distributors from eight distribution centers strategically located across the U.S. ORS Nasco offers about 200,000 premium branded and private label products from over 600 manufacturers. ORS Nasco sells to more than 10,000 independent distributors in multiple channels, including industrial, MRO, safety, construction, welding, and oilfield services.
About Lincoln International
Lincoln International specializes in merger and acquisition services, private capital raising, and providing fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, Madrid, New York, Paris and Vienna, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise, and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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