has been acquired by
December 1, 2022 | Philadelphia, PA
Mufson Howe Hunter & Co., a leading investment bank serving middle market companies, is pleased to announce the acquisition of Pennsylvania Paper & Supply Company (“Penn Paper”) by Envoy Solutions, LLC. Envoy Solutions is a diversified distribution company offering janitorial supply, packaging solutions, foodservice disposables, and specialty products. Based in Glenview, Illinois, Envoy Solutions operates as a subsidiary of Fomento Económico Mexicano, S.A.B. de C.V.
Headquartered in Scranton Pennsylvania, Penn Paper is a 100-year-old, third generation business well known in the industry as a full-service, specialized distributor of facilities supplies, jan-san equipment and supplies, as well as industrial packaging solutions. However, Penn Paper is most well-known for operating in the building that appears in the opening credits of the “The Office,” as the fictional paper distributor Dunder Mifflin. The acquisition helps further expand Envoy Solutions’ footprint in the Pennsylvania, New York, and New Jersey markets.
Mufson Howe Hunter acted as Penn Paper’s exclusive financial advisor for the transaction.
Douglas Fink, CEO of Penn Paper, stated: "Andy Apfelbaum, Michael Mufson, and their team navigated us through this convoluted process as consummate professionals, and we're very grateful to them for their stellar guidance in bringing our century old family business to both an exemplary ending, and a perfect new beginning."
Mufson Howe Hunter & Co., an investment banking firm established in 2004, focuses on merger and acquisition transactions and the placement of growth capital for middle market companies. Mufson Howe Hunter's senior investment bankers each have over two decades of transactional experience across business services, consumer, industrials and technology services sectors. Mufson Howe Hunter advises both public and privately-held companies, with a particular focus on family-held and privately-owned businesses.