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.
I appreciate the amazing work the entire Capstone team did. This whole process was very impressive. From the very beginning, their guidance was right on target. Capstone is a great organization working at the top of its field. My heartfelt gratitude goes out to the deal team and the organization as a whole.
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.”
“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.”
Envoy Solutions, a diversified distribution company for janitorial supply, packaging solutions, and specialty products, helps businesses thrive through a multifaceted approach to making buildings cleaner and people safer, every day. Their wide array of essential products are improving safety, sustainability, and the quality of life at schools, hospitals, offices, and other institutions.
Based in Glenview, Ill., Envoy Solutions is the parent company of North American Corporation, WAXIE Sanitary Supply, Southeastern Paper Group, Daycon, PJP, and NVISION.
FEMSA is a Mexican multinational beverage, retail, and logistics company headquartered in Monterrey, Mexico. It operates the largest independent Coca-Cola bottling group in the world and the largest convenience store chain in Mexico. It is also the second largest shareholder of Heineken N.V.—one of the world’s leading brewers with operations in over 70 countries—and participates in the logistics and distribution industry through its Strategic Business Unit, providing point-of-sale refrigeration and plastic solutions to its business units and third-party clients.
Across its business units, FEMSA has more than 320,000 employees in 13 countries. FEMSA is a member of the Dow Jones Sustainability MILA Pacific Alliance, the FTSE4Good Emerging Index, and the Mexican Stock Exchange Sustainability Index, among other indexes that evaluate its sustainability performance.