K4 Holdings Completes Investment in Philadelphia Dry Ice Company

April 23, 2021

K4 Holdings is pleased to announce that it has made a substantial investment in Philadelphia Dry Ice Company, LLC, to acquire the assets of LeBoeuf Holdings, Inc., doing business as Jim’s Enterprises. Jim’s Enterprises is a leading distributor of dry ice, wet ice and related cold chain products in the Greater Philadelphia region. Many of Jim’s Enterprises’ customers are institutional or mission-critical entities in the medical and food logistics industries.

Brandon Adams, Managing Partner at K4 Holdings, remarked, “Jim’s Enterprises has been providing unmatched service to over one thousand high-quality customers in the Greater Philadelphia region for over 45 years, ensuring the viability, freshness, and safety of critical cold chain products. Going forward under the Philadelphia Dry Ice Company banner, we will continue to provide competent, courteous, and efficient service to our valued customers.”

“Our customers rely on the products we deliver to preserve vital food stores, preserve medical samples, and safely serve consumable products at scale. Our plans include strategically growing the platform with larger institutional customers, leveraging the company’s existing underutilized capacity, and expanding our product offerings to include additional verticals within cold chain logistics.”

Don Ware, Managing Partner at K4 Holdings, added, “Jim’s Enterprises has demonstrated impressive financial and operating performance. It is really a testament to the team in place that they have successfully established a sizable regional platform. Brandon and I are excited to take the baton from current management and continue to drive growth in the business.”

Going forward, Philadelphia Dry Ice Company will be led by Brandon Adams as Chief Executive Officer and Don Ware as President.

K4 Holdings contributed participating preferred equity for this transaction. Debt financing for the acquisition was provided by 44 Business Capital, a division of Berkshire Bank. The law firm of Moore & Van Allen provided legal counsel to K4 Holdings on the transaction.