Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce the sale of AFC Industries (“AFC” or the “Company”), a leading provider of supply chain management services and vendor managed inventory programs to original equipment manufacturers (“OEMs”).
Headquartered in Fairfield, OH, AFC distributes fasteners and other C-parts essential to assembly. The Company also provides a wide array of value-added services, including kitting, packaging, assembly and other customization specific to its customers’ needs that reduce pain points and allow OEMs to focus on their core competencies.
“We are extremely pleased with AFC’s significant accomplishments through our partnership, including more than tripling the size of the business,” said Leon Rubinov, Senior Partner with Incline. “To support such meaningful growth, we made strategic investments to expand the management team, develop global sourcing capabilities and upgrade ERP systems. AFC is well-positioned for continued success.”
“Incline has been a value-added partner,” said Kevin Godin, President and Chief Executive Officer of AFC. “With Incline’s support, AFC is proud to have become the acquirer of choice in the fragmented C-parts industry. Incline helped us develop a strategy and playbook to accelerate our approach to making acquisitions, having completed 12 acquisitions together. Incline’s experience investing in distribution-related businesses was a great asset to us through our partnership.”
About Incline Equity Partners:
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm investing in manufacturing, distribution and business services companies. Incline is generally seeking growing companies with enterprise values of $25 – $450 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.
Incline Management, L.P. (“IMLP”) 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. IMLP provides investment advisory services only to privately offered funds. IMLP 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 IMLP client fund or investor and do not describe any experience with or endorsement of IMLP as an investment adviser by any such client or investor.