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Nassco

“We needed speed and we needed a good partner.”

Nasco logo on the outside of the building

Business Basics

From multiple locations across the Midwest, Nassco is a leading distributor of janitorial supplies and provider of value-added packaging products and services. The company has been a family-owned business for more than 60 years. We spoke with Mark Melzer, Nassco's CEO.

Banking Story

In the fall of 2020—recognizing the Covid economic scare as receding—Nassco’s leadership team worked to position the firm for strong growth. Over the next couple years, Nassco:

  • Acquired two companies to expand its geographical reach and product mix. 
  • Had an opportunity to move to a much larger headquarters. “We essentially doubled the size of our facilities,” explains Mark.
  • Evaluated its banking needs and made a change to Johnson Financial Group.

“We had felt over a number of years that our prior bankers didn’t really understand where we were headed as a company,” says Mark. “We also had a preference for local decision-making by bankers who really understand the Southeast Wisconsin region.” 

Mark and Scott Cooney, SVP – Director Commercial Banking, had worked together previously, when Scott was in a different role elsewhere. Mark says, “I had leaned on Scott as a sounding board, on certain topics through the years and the Covid period was one of those. Scott was never trying to sell me on making a change; he was just being a resource.” The opportunity to start working together again came in 2022—working with both Scott and senior banker Russ Plewa, SVP Commercial Banking.

“I can pick up the phone and call Scott or Russ and get really good banking advice, whether it's business, personal, maybe even the climate in the business community,” says Mark. They're in touch with what's going on locally.”

This partnership mindset was put to the test in 2023 when Nassco embraced a significant opportunity for expansion: the potential purchase of a business much larger than Nassco’s prior acquisitions. The JFG team provided business advice throughout a compressed, highly demanding period of only five months from initial exploration to closing.

As Scott puts it, “Every bank will lend money, but when you get to know each other and develop relationships, they trust you, you trust them. Our hope is to earn and keep a client’s business into perpetuity. There is a big difference between a transaction and a partnership”.

Mark says, “It sounds cliche to talk about a partnership, but that was a real partnership experience when we were evaluating all the paths we could go down to get this done. We needed speed, and we needed a good partner.”

In addition to Scott and Russ, the JFG team included other experts to help ensure the deal was structured favorably for Nassco and its owners. Scott said, “The nature of our team lets us do bigger, complex work for middle-market companies that requires a deep skillset—while also maintaining the personal connection our clients value. That’s how we are different”.

For example, Russ, a licensed CPA, prepared a debt capacity analysis for Nassco, showing various debt scenarios. From there, it was about getting the deal done the right way for all parties involved. For Nassco, this partnership has been a key factor in the firm’s growth and success. The acquisition closed successfully and significantly expanded the firm’s capabilities and reach in value-added packaging.

“The JFG team understood Nassco's business—where we were at the time, and where we were going,” said Mark. “Their efforts and collaboration helped us be confident about the path we took.”