Capstone Partners advised Next-Gen Supply Group (Next-Gen) on its sale to Envoy Solutions, a subsidiary company of FEMSA.
For nearly 85 years, Next-Gen Supply Group and its legacy companies have been manufacturing and distributing janitorial solutions throughout the Northeast. With locations in Mansfield, Massachusetts and Orange, Connecticut, they are leaders in providing value-added products and services to a wide array of customers. With their state-of-the-art distribution centers, equipment repair operation, and chemical manufacturing facility, they quickly became a regional powerhouse in the Jan San industry.
Next-Gen is the latest in a series of companies joining Envoy Solutions’ growing portfolio. Next-Gen’s expansive fleet of trucks serves more than 2,300 customers throughout the Northeast and the strategic sale will facilitate Envoy’s expansion to employ more than 2,400 associates, operate 45 distribution centers, and support more than 54,000 customers.
“Since our original merger, we’ve expanded our products and services considerably, and we felt it was necessary to join a national platform to fuel our future growth,” said Larry Stern, President of Next-Gen. “We consider Envoy Solutions to be a true leader in the industry we serve because of their executive team, best in class operations, customer-centric philosophy, and their fast-paced geographic growth. For those reasons, joining Envoy Solutions is a perfect fit. For our customers, employees, and suppliers this can be summed up in one word: Opportunity.”
Todd McMahon, Head of Investment Banking at Capstone Partners, added, “This is a great transaction for Next-Gen, and we are extremely proud to have represented them. Envoy is a fantastic partner and together it’s a great combination. This combination will allow for the continued success in an extremely dynamic and growing market.”
“I’m thrilled to welcome Next-Gen to the Envoy Solutions family of brands,” said Mark M. Fisher, CEO of Envoy Solutions. “I am excited to work with Larry Stern, Richard Tepper, Michael Glass, and their families. I’m confident the Next-Gen team will continue to enhance our differentiated offering for our customers and suppliers. As we continue to expand our platform, I’m energized by the momentum that we’re experiencing as we learn and grow with each new acquisition.”