Facility supplies distributor Spruce Industries announced Nov. 30 that it has appointed Michael Josephs as the family-run company’s Executive Vice President and Chief Financial Officer, with the move coming as the company looks to amplify its growth strategy amid the market’s rapidly changing landscape.

Josephs brings 25 years of investment banking and finance experience to Spruce. He spent the past six years at business startup incubation studio firm 25Madison as its strategic advisor, following an 11-year run leading business development and mergers and acquisitions at Townsquare Media.

“Our industry has experienced a massive wave of consolidation in recent years. From 25,000 facility supply companies in the U.S. a few years ago, to approximately 1,300 today,” Josephs commented. “Many customers feel that they’ve been left behind. I’m excited to bring a disciplined approach to growth that will scale the personal touch that Spruce is known for.”

In his new role, Josephs will work closely with his father, company President Hank Josephs, and his brother, Chief Operating Officer Dan Josephs. 

Rahway, NJ-based Spruce Industries was founded in 1965 and serves as a distributor of JanSan products, cleaning supplies, tools and equipment. Spruce is a member of Triple S and the ISSA.