2/20/2012 12:26:00 AM
HEADLINES
AFC Industries Recapitalized by Equity Firm
Rockwood Equity Partners has recapitalized Ohio-based industrial fastener supplier AFC Industries Inc. in partnership with company co-founders Terry Tomlinson and Steve Sullivan.
Founded in 1987, AFC is based north of Cincinnati in Fairfield, from where it distributes and provides vendor managed inventory programs for standard and specialized fasteners and other industrial components sourced from a broad global supplier base. The company’s portfolio consists of nearly 6,000 SKUs, including screws, bolts, nuts, threaded inserts, pins, O-rings and other industrial components.
“During the past 25 years, Terry and Steve have built AFC into a strong business with a notable regional presence,” explained Owen Colligan, Managing Director of Rockwood.
“The company now is positioned for significant expansion in geographic reach, customer base and product and service offerings, and we look forward to partnering with AFC’s management team to develop and execute against an aggressive growth strategy.”
Tomlinson expressed optimism with the deal.
“We have worked closely with the Rockwood team to develop a strategic plan focused on growth opportunities including acquisitions, product line expansion, new customer acquisition and other opportunities to expand the business across both geographic and end markets.”
In conjunction with the transaction, Sullivan will remain with the company as President and Chief Operating Officer and Tomlinson will serve as a senior advisor and member of the company’s Board of Directors. Web: afcind.com ©2012 GlobalFastenerNews.com
Rockwood Equity Partners has recapitalized Ohio-based industrial fastener supplier AFC Industries Inc. in partnership with company co-founders Terry Tomlinson and Steve Sullivan.
Founded in 1987, AFC is based north of Cincinnati in Fairfield, from where it distributes and provides vendor managed inventory programs for standard and specialized fasteners and other industrial components sourced from a broad global supplier base. The company’s portfolio consists of nearly 6,000 SKUs, including screws, bolts, nuts, threaded inserts, pins, O-rings and other industrial components.
“During the past 25 years, Terry and Steve have built AFC into a strong business with a notable regional presence,” explained Owen Colligan, Managing Director of Rockwood.
“The company now is positioned for significant expansion in geographic reach, customer base and product and service offerings, and we look forward to partnering with AFC’s management team to develop and execute against an aggressive growth strategy.”
Tomlinson expressed optimism with the deal.
“We have worked closely with the Rockwood team to develop a strategic plan focused on growth opportunities including acquisitions, product line expansion, new customer acquisition and other opportunities to expand the business across both geographic and end markets.”
In conjunction with the transaction, Sullivan will remain with the company as President and Chief Operating Officer and Tomlinson will serve as a senior advisor and member of the company’s Board of Directors. Web: afcind.com ©2012 GlobalFastenerNews.com
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