AmerCareRoyal Adds Scope with Ross & Wallace

EXTON, PA -- AmerCareRoyal, a distributor of foodservice, janitorial, sanitation and industrial products, has acquired Ross & Wallace Paper Products, Inc., the seventh add-on acquisition since HCI Equity Partner's initial investment.

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."

"We appreciate that Ross & Wallace has chosen to join HCI's AmerCareRoyal group,” said HCI Managing Partner Doug McCormick. “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. Terms were not disclosed.

For more, go to www.amercareroyal.com.

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, go to www.hciequity.com.