NEW YORK — Private equity firm High Road Capital Partners announced Wednesday that its Franklin, WI-based portfolio company, All Integrated Solutions (AIS), has completed the acquisition of Great Lakes Fasteners Corporation.
Based in Grand Rapids, MI, Great Lakes Fasteners is a value-added distributor of fasteners and industrial components and provides vendor-managed inventory (VMI) programs to original equipment manufacturers in western and central Michigan.
"Great Lakes Fasteners' focus on custom VMI programs and high-touch customer service are a compelling fit with AIS," said Ben Schnakenberg, Partner, High Road Capital Partners. "This acquisition expands AIS's reach into Michigan and the automotive and material handling industries, and solidifies AIS's position as the leading independent distributor of industrial OEM components and MRO products in the Upper Midwest."
AIS, formerly known as Accurate Components & Fasteners, was acquired by High Road in 2012. Great Lakes Fasteners is the third acquisition completed by AIS under High Road's ownership.
Founded in 1962, AIS is a value-added distributor of industrial fasteners and components, MRO supplies and assembly tools. AIS offers these products along with vendor managed inventory (VMI) services to original equipment manufacturers. Franklin, WI is a southwest suburb of Milwaukee.
"The Great Lakes Fasteners' team shares our commitment to working closely with customers to meet their needs and help them achieve production and operational efficiencies," said Jim Ruetz, CEO of All Integrated Solutions. "We are excited to introduce our expertise in MRO products, production components and assembly tools to Great Lakes, as well as to leverage Great Lakes' capabilities in value-added kitting and small assembly services across AIS."
AIS's acquisition of Great Lakes Fasteners closed Aug. 2, 2016. Terms were not disclosed.