Bertram Capital has announced the acquisition AFC Industries, an Ohio-based a distributor of fasteners and other C-parts. AFC represents the fifth investment completed in Bertram’s fourth fund. The terms of the transaction were not disclosed.
AFC maintains 22 stocking locations across North America and a presence in Mexico. The company is well-positioned to serve the evolving needs of a market driven by technical sales and service relationships between distributors and customers, nationally and locally.
“AFC has established itself as a real partner to customers through its high-touch and value-added distribution model, alleviating many of the pain points related to sourcing C-parts and inventory management,” said Kevin Yamashita, partner at Bertram Capital. “AFC’s success reflects the company’s extensive technical and industry expertise, deep domestic and international sourcing network, and vast national distribution footprint. We are honored to partner with Kevin Godin and the AFC team.”
AFC is a consolidator of choice in the fragmented C-parts industry based on the company’s proven track record of acquisitions and excellent reputation for employee culture and customer service.
“We appreciate the support of Bertram Capital as we continue to grow our reach, both organically and through acquisitions, while investing to better serve our customers,” said Kevin Godin, CEO of AFC. “The Bertram team differentiated itself in the sale process through their clear understanding of our business model and services, shared vision in the value creation strategy, and Bertram Labs resource. We look forward to partnering with Bertram and the Labs team,”
Bertram recognizes the investment banking team at Piper Sandler & Co., led by Ryan Mitchell and Nicole Zenker, for their efforts in closing this transaction and making this partnership possible.
“We are excited to pursue an aligned value-creation strategy with the AFC team. We have been extremely impressed with the entire organization and operation at AFC,” said Jeff Drazan, managing partner of Bertram Capital. “We believe our Bertram Labs technology enablement team will be a significant tool for AFC to leverage to further accelerate growth.”