AFC Industries, a provider of fastening and vendor-managed inventory (VMI) solutions, announced that it has acquired Fastbolt, a provider of global supply-chain management services. Terms of the deal were not disclosed.
Based in South Hackensack, New Jersey, Fastbolt was founded in 1974 by Albert Zaukas. The company is a quality-driven global supply-chain management company that is continually evolving to meet the needs of an increasingly sophisticated and diversified customer base.
“We have wanted Fastbolt as part of the AFC family for several years,” said AFC CEO Kevin Godin. “They were one of the first businesses we reached out to when we launched our acquisition strategy. We are glad that when the time was right for the family to sell the business, they chose us.”
“Our responsibility to be good stewards of these businesses is important to us and we are confident that together, the future is bright,” added Godin. “Bringing these two businesses together makes both stronger in several ways and we look forward to working together to continue to build a legacy of excellence.”
“We have worked hard through the years to build on our father’s legacy of taking excellent care of our customers through real partnerships with our employees. It was important to our family that we found a partner that would respect that and build on it,” said Fastbolt owner and CEO Glenn Zaukas. “We are excited that Fastbolt will continue to be in the hands of owners who are committed to growing the business the ‘right’ way.”