By BILL ARCHER
Bluefield Daily Telegraph
A Jacksonville, Fla.-based distributor and direct marketer of broad-line maintenance, repair and operations products announced earlier this week that it has entered into an agreement to acquire JanPak Inc., a business headquartered in Davidson, N.C., with roots in Bluefield.
JanPak started out in 1945 as Paper Supply, with five men at its core including James H. Shott Sr., his younger brother, H.I. Shott Jr., James R. Tilson, L.M. Kerley Sr., and B.L. Early. James Shott’s grandson, Mike Shott, was serving as chairman of the JanPak board of directors when the company changed its name from Paper Supply to JanPak on Oct. 10, 2000. Shott remained as company chair when its headquarters were moved to North Carolina.
Shott still serves as JanPak chair. He said in response to an email message seeking comment that details of the agreement were released in a joint press release Interline and JanPak. “At this time, no operational or personnel changes are anticipated for the Bluefield Distribution Center,” Shott wrote.
According to the press release, details of Interline’s agreement with JanPak include $82.5 million in cash, subject to working capital and other closing adjustments. Over the years, JanPak has grown to serve customers through 17 distribution centers, a fleet of online ordering and customer support capabilities and specialized programs aimed at helping meet customer needs.
“I am excited to welcome JanPak into the Interline family,” Michael J. Grebe, chairman and chief executive officer of Interline was quoted in the joint press release as stating. “JanPak is a well-run business with a deep and talented team that has built a leadership position in the Southeast JanSan (janitorial and sanitary) market.”
JanPak’s President Tim Feehley was quoted in the joint press release as stating: “By bringing together JanPak’s core values and culture, along with our problem-solving and product system capabilities with Interline brand’s larger product offering, scale, platforms and systems, I am confident that we will deliver to our customers even broader capabilities and enhanced service.”
According to the joint press release, the companies hope to complete the transaction by the end of the year.
— Contact Bill Archer at email@example.comȻ