Rockwood Equity Partners buys Pa. fastener business
By Michelle Park Lazette , 2014-02-27 12:00:00
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Rockwood Equity Partners LLC, a private investment firm based in Cleveland and New York, has acquired Dell Fastener Corp. as an add-on to its portfolio company, AFC Industries Inc. in Fairfield, north of Cincinnati.
Terms of the deal were not disclosed.
Dell Fastener, a Bridgeville, Pa.-based distributor of fasteners and provider of supply chain logistics to original equipment manufacturers worldwide, will operate as a division of AFC, according to Rockwood's news release. General manager Doug Kortyna will continue to lead it.
“We expect that the expanded footprint provided by our partnership with AFC will help us to deliver even better service to customers of both companies in the future,” Kortyna said in the release.
AFC distributes and provides vendor managed inventory programs for a broad array of standard and specialized fasteners and other industrial “C-Items” and components sourced from a broad global supplier base.
Rockwood recapitalized AFC in 2012 and has been working to execute a growth strategy focused on strategic acquisitions and expanded product offerings, among other things.
