Incline Equity Partners (“Incline”), a private equity firm focused on making investments in lower middle-market growth companies, announces that its portfolio company, AFC Holdings (“AFC”), acquired Accurate Fasteners, Inc. (“Accurate”). The acquisition of Accurate represents the fourth add-on transaction since Incline acquired AFC in March 2015.
Headquartered in Boston, Massachusetts, Accurate is a value-added distributor of fasteners and related products to customers in a variety of end-markets, including healthcare, information technology, electrical equipment and general industrial. Accurate provides a number of value-added services, including inventory management, kitting & packaging and specialty labeling. Accurate is owned by its founding family and members of the family will continue to manage the business.
“We are excited to continue expanding our presence in the Northeastern U.S.,” said Kevin Godin, CEO of AFC. “Additionally, the purchase of Accurate improves our ability to support the healthcare and information technology end markets.”
“Growing AFC through acquisition is an important part of our strategy for the business,” added Jack Glover, Partner at Incline. “We will continue to look for companies like Accurate that complement AFC’s service offering and/or expand its geographic reach.”
About Incline Equity Partners:
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm focused on making investments in lower middle-market growth companies, focusing on companies with enterprise values of $50MM to $200MM across a variety of industry sectors including value-added distribution, specialized light manufacturing and business services. Typical investment types are management buyouts, ownership transitions for privately held businesses and corporate divestitures. Incline Equity Partners has experience with investing, mergers and acquisitions, leveraged finance, leveraged buyouts and growth capital.
Incline Management Corporation (“IMC”) is registered with the U.S. Securities and Exchange Commission as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended. Registration as an investment adviser does not imply a certain level of skill or training. IMC provides investment advisory services only to privately offered funds. IMC does not solicit or make its services available to the public or other advisory clients. This press release is intended solely to provide information regarding Incline’s potential capabilities for prospective portfolio companies, and is not an offer to sell to any person, or a solicitation from any person of an offer to buy, any securities. The statements contained herein are not statements of any IMC client fund or investor and do not describe any experience with or endorsement of IMC as an investment adviser by any such client or investor.