7/18/2011
HEADLINES
FACIL of Belgium Acquires FLEXALLOY
Belgium-based FACIL acquired FLEXALLOY from Acument Global Technologies for an undisclosed sum.
James Rayburn founded Flexalloy Inc. in 1967 and was one of the co-founders of the National Fastener Distributors Association. Rayburn died of leukemia in 1981 and was succeeded by his 26-year-old son, Andy Rayburn.
The Rayburn family sold Flexalloy to Textron Inc. in April 1999 for $185 million. After a 16-month transition of heading Flexalloy under Textron, Andy Rayburn invested in minor league baseball teams.
In August 2006, Platinum Equity acquired Textron Fastening Systems and three months later changed the name to Acument Global Technologies, reflecting the new beginning and strategic direction as a stand-alone company, the company told FIN.
FLEXALLOY operates four fastener distribution facilities in the U.S. and Mexico and is headquartered in Twinsburg, OH. Its main customer is Daimler Truck North America.
“The fact that both FACIL and FLEXALLOY sell into the Automotive and Truck sectors, but have completely complementary customers, makes an ideal combination of capabilities and expertise and fits perfectly into the FACIL globalization plan,” FACIL said in a statement.
The new company, FACIL-FLEXALLOY, provides FACIL with new customers and capabilities in North America, “satisfy(ing) customer requirements of doing local business with global suppliers.”
“The two company’s joint capabilities will create a strong foundation for growth, organically and strategically, utilizing significant expertise in the transportation sector,” added FACIL CEO Rene Achten.
Once integrated, FACIL-FLEXALLOY will serve the North American automotive and truck markets and will develop expertise in other industrial markets.
FACIL-FLEXALLOY will provide more than 20 thousand different fasteners and handle a volume of 3 billion parts per year for more than 1.5 million cars and trucks. Projected annual sales should top $400 million.
FACIL was established in 1999 as an alliance between the German fastener manufacturer KAMAX and France-based A. Raymond, specialist in the development of engineered metal and plastic fasteners. FACIL provides engineerings, logistics, purchasing, procurement and QA services for the production of more than one million cars and trucks each year.
FACIL is headquartered in Genk (Belgium) with 9 points of delivery and 6 development centres at customer locations in seven Western-European countries. The number of employees has grown from 15 in 1999 to more than 250 today. Web: facil.be ©2011 GlobalFastenerNews.com
For the story of Flexalloy, click on Fastener History section of GlobalFastenerNews.com and scroll down to 2000 FIN – Hirsch Succeeds Sights as Textron Fastening President; Rayburn Leaves Fasteners for Baseball or click HERE.
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