HCI Equity Partners-Backed AmerCareRoyal Acquires Ross & Wallace Paper Products, Inc.

AmerCareRoyal Completes Seventh Add-on Acquisition

News provided by

Dec 16, 2021, 07:00 ET

EXTON, Pa., Dec. 16, 2021 /PRNewswire/ -- AmerCareRoyal, backed by HCI Equity Partners ("HCI"), announced today it acquired Ross & Wallace Paper Products, Inc. ("Ross & Wallace" or the "Company"). AmerCareRoyal is a leading supplier of disposable foodservice supplies, gloves and take-out packaging. Ross & Wallace is AmerCareRoyal's seventh add-on acquisition since HCI's initial investment. Financial terms were not disclosed.

Ross & Wallace Paper Products is a US manufacturer of paper grocery and merchandise bags, SOS grocery sacks and paper roll products. The Company serves the grocery, convenience store and other foodservice industries. Founded in 1951 and entirely owned by the Ross Family, the Company is based in Hammond, Louisiana, outside New Orleans.

"We are very excited the Ross & Wallace team has joined AmerCareRoyal," said Scott Milberg, CEO of AmerCareRoyal. "This development significantly extends the scope and capability of the North American foodservice industry's leading single-stream resource for disposable products. It is an extraordinary day in the proud histories of AmerCareRoyal and Ross & Wallace."

"Becoming a part of the AmerCareRoyal team provides Ross & Wallace with an exciting opportunity to combine our resources and utilize our shared values to begin the next chapter of growth," said Megan Manning, Ross & Wallace CEO. "As a company with a proud history of committing to quality and customer service, we believe this acquisition positions both companies to better serve our customers."

HCI Managing Partner, Doug McCormick, commented, "We appreciate that Ross & Wallace has chosen to join HCI's AmerCareRoyal group. We have a strong commitment to partnering with forward-looking founders such as the Ross Family and believe AmerCareRoyal can provide new resources not only to sustain a generational legacy of success but accelerate the company's growth. HCI's track record demonstrates that we help companies grow, innovate, and better compete in today's markets, and we are confident that Ross & Wallace and their management team will become a valuable part of AmerCareRoyal."

Greenberg Traurig served as legal counsel to ACR. Generational Equity acted as the financial advisor to Ross & Wallace and Seale & Ross, PLC served as legal counsel.

About AmerCareRoyal

AmerCareRoyal is a single stream resource for over 6,000 disposable products used in the foodservice, janitorial, sanitation, industrial, hospitality and medical industries. With multiple shipping points across the United States, our family of companies service national level customers with outstanding customer service and an ever-growing product line. For more information, please visit www.amercareroyal.com.

About HCI Equity Partners

HCI Equity Partners is a lower middle market private equity firm focused on partnering with family and founder owned distribution, manufacturing and service companies. HCI is headquartered in Washington, DC. For more information, please visit www.hciequity.com.

Contacts:

Kelsey Clute, VP, Director of Communications, HCI
[email protected]

Lisa Baker, Lambert & Co.
[email protected]

SOURCE HCI Equity Partners