Private-equity firm, Frontenac, announced that it has acquired EFC International, a value-added distributor of highly engineered fasteners. The financial terms of the transaction were not disclosed.
EFC operates globally and provides solutions such as engineering support, sales and marketing, distribution, and high-touch service to customers in the automotive, industrial, and other technical end markets.
The company has served as a critical link between suppliers and customers for over 35 years.
“We have enjoyed strong growth over the past several years as we executed on a number of key initiatives that have expanded our global reach as well as our customer and supplier base,” said CEO, Matt Dudenhoeffer. “With Frontenac as our new partner, we are excited to leverage their industrial distribution expertise to continue our expansion plans, both organic and inorganic, and continue to increase market share both domestically and abroad.”
Dudenhoeffer, along with the current executive team, will continue in their roles leading the company. EFC has a history of growth driven by longstanding supplier relationships and a tenured customer base.
“We identify and invest in industry leaders that are growing in excess of the market and provide first rate service to customers and suppliers alike,” said Ron Kuehl, managing director at Frontenac. “EFC has grown impressively and perfectly fits our target profile. We look forward to deploying our playbooks, working with the team to accelerate the pace of progress, and having another successful industrial distribution investment for Frontenac.”
Neal Sahney, principal at Frontenac, added: “EFC has performed exceptionally well over decades and generated record results this past year. The team has successfully executed on a set of initiatives and has proven to be adept at both investing in the business for the long-term and growing earnings. The future is bright for EFC, and we are looking forward to collaborating with the team in support of their strategic plan.”
Quad-C Management, Inc., a middle market private equity firm, announced that it has completed the sale of its investment in EFC International.
Filed Under: Fastener industry news
Tell Us What You Think!