Sole Source Capital Sells Individual FoodService to Kelso & Company
Headquartered in Bell, California, IFS is a leading distributor of 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. Since its early beginnings as one of the very first Dixie cup distributors in Southern California, IFS has dedicated itself to offering a broad and unique array of goods at competitive prices with a heavy emphasis on integrity, while providing clients with excellent, honest service through comprehensive industry knowledge.
Lincoln served as the exclusive financial advisor to IFS, working closely with its shareholders and management team, and providing advisory expertise while managing the due diligence and negotiation phases of the transaction.
David Fredston, Managing Partner and Founder of Sole Source, commented, “As this will be the first exit for Sole Source, IFS is an important transaction for us. Sole Source’s investments in the company helped develop IFS into the well-established platform it is today and will allow the management team to pursue a buy-and-build strategy with their new partner in Kelso.”
About Sole Source Capital
Sole Source Capital is a private equity firm that targets investments in lower middle market companies. The firm seeks to invest in companies with at least $50 million of revenue and $5 million of EBITDA. Areas of interest include high precision manufacturing, diversified distribution and industrial service companies. Types of transactions include management buyouts, corporate divestitures and founder/family owned businesses. SSC was formed in 2016 and is headquartered in Santa Monica, California. For more information on SSC, please visit www.solesourcecapital.com
About Kelso & Company
Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested over $13 billion of equity capital in 127 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm’s investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured and stable investing team and a reputation as a preferred partner to management teams and corporates. Kelso has significant experience investing in distribution, having deployed over $1.5 billion of equity capital in the sector. The firm is based in New York, New York.
Lincoln's senior-led team has worked hand-in-hand with us to demonstrate our differentiated business model, guide us through due diligence and advocate on the company’s behalf throughout the negotiation phase of the process, driving a fantastic outcome for the shareholders.
Meet our Senior Team
View More Transactions in Business Services and Packaging
Lincoln International advised Wind Point Partners on the acquisition of Central Moloney Incorporated
Lincoln International advised Rivean Capital on the sale of ELCEE Group to Torqx Capital Partners
Lincoln International advised OmniMax International on the sale of Amerimax Fabricated Products to a family office
Wise Equity, in collaboration with its portfolio company FIMO Group, has acquired a majority interest in WANHO
Lincoln International advised centrotherm clean solutions on its sale to Busch Vacuum Solutions
Lincoln International advised Industrial Growth Partners on the sale of CLIMAX to Specialized Fabrication Equipment Group, a portfolio company of Gladstone Investment
Lincoln International advised TriWest Capital Partners on the sale of ZyTech Building Systems to RONA, a portfolio company of Sycamore Partners
Lincoln International advised Convent Capital on the sale of CROWD to Tikehau Capital
Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.