Sam Tell Cos. To Acquire Business Assets Of Premium Supply

In a deal expected to close early in July, Sam Tell and Son and Premium Supply Co.  have announced that Sam Tell will acquire certain business assets of Premium. Jay Pattinger, CEO of Premium, will join Sam Tell as an Executive Vice President and member of the company’s executive committee.

“We are very excited to welcome the Premium team to our family of companies, and will look to work together to provide our new customer base with the level of service that Sam Tell customers are accustomed to,” said Marc Tell, President of Sam Tell. “We are eager to add the product and service offerings currently provided by Premium to our existing customer base. Jay and his team have been friendly competitors for decades, and we have always retained a great level of respect for the way they do business and conduct themselves. We are looking forward to learning from them and with them as we grow.”

The acquisition gives Sam Tell and Son, one of the largest E&S distributors in the New York market, a significant boost in its market reach in the Northeast. The Farmingdale, N.Y., dealer reported 2015 sales of $69.7 million last year, ranking it No. 21 on FER’s 2016 Top Dealers list. Premium, based in Deer Park, N.Y., had estimated sales of more than $30 million.

“We look forward to working with Sam Tell. Our customers recognize the efficiencies made possible by this change and overwhelmingly welcome it. From increased inventory, to greater access to products sourced worldwide, to unparalleled warehouse and logistics management, we expect to realize operational excellence,” said Pattinger.

More acquisitions are possible, according to Sam Tell COO Daniel Saltzman. “Sam Tell will continue to seek partnerships and other strategic acquisitions that fit our model,” he said. “Over the years, we have been involved in a number of acquisitions, and each provided our customer base with an increased level of service. We look forward to a continuation of this approach.”