CLEVELAND — Hospeco Brands Group’s stalking horse bid has been accepted by a Delaware bankruptcy court as the winning offer for the assets of Supply Source Enterprises, comprised of The Safety Zone and Impact Products.
The purchase was finalized on July 19.
Hospeco Brands Group is a global and leading manufacturer of wiping solutions, personal care, odor control, cleanroom, safety, textiles, and specialty products to serve building management, industrial and manufacturing, food service, education, healthcare and life sciences, hospitality and wellness, and myriad other markets.
The addition of SSE’s products and capabilities, particularly the well-known The Safety Zone and Impact Products brands, immediately transforms the already-robust Hospeco Brands Group bundle into a true single-source solution across the most significant categories in the sanitary supply and industrial safety markets. This is a transformative moment of growth, and a win for customers, who immediately gain access to virtually every product they need for the away-from-home market from a proven, trusted name.
Tom Friedl, president of Hospeco Brands Group’s parent company, Tranzonic, said, “We are excited to bring SSE into the Hospeco Brands Group family. The expanded offering will be well received by our customers, but this is just as significant for the customers, vendors, and employees of SSE.”
Customers of the former SSE and its affiliates can expect business as usual during this transition. The process by which orders were placed prior to the acquisition remains unchanged. Hospeco Brand Group has already begun recapitalizing the business, and replenishment products are flowing.
“It is business as usual as we begin the assimilation process. We have nothing but respect for the former SSE and its team — and Impact Products and The Safety Zone are two strong, highly valued brands. We will execute this transition smoothly and efficiently for all parties involved,” said Friedl.
This asset purchase conforms to Hospeco Brands Group’s growth strategy, which couples strong organic growth with strategic purchases and acquisitions.
On May 21, SSE sought bankruptcy protection under section 363 of the United States Bankruptcy Code. Hospeco Brands Group, through its parent company, Tranzonic, agreed to submit a bid to purchase SSE’s assets through a court-directed sales process. The purchase creates stability and growth opportunities for SSE’s brands and workforce.
