FAIRFIELD, Ohio — AFC Industries has acquired Saginaw, Michigan-based PF Markey Company.
Terms of the deal were not disclosed.
Founded in 1977, PF Markey has grown to be one of the most innovative and capable distributors of cutting tools, abrasives and other plant supplies in the country. Markey helps customers enhance efficiency and profit by working with them to provide comprehensive efficiency and cost savings programs. They have been a leader in industrial vending and VMI solutions since the 1990’s.
PF Markey will continue to be managed by Jim Terry, Tom Hagarty and the Markey management team. Markey will be part of the AFC tooling division along with Cline Tool.
“We have been very pleased with the performance of our tooling group and were looking to expand its capabilities and staff," said AFC CEO Kevin Godin. "The challenge was that our model is built around a set of value-added services that are not typical in the space, and we knew to keep our momentum we would need to find an excellent team with a similar philosophy and culture. Jim and his team checked every box. The alignment, culture, and go-to-market strategy were mirror images of one another. We are very excited to have them join the family and for us be able to continue to build on the excellent foundation they laid.”
“We had many choices in who we could have decided to move forward with. The more time we spent with the folks at AFC, the more it became obvious that they truly understood what was special about PF Markey," Terry added. "The capabilities and talent of the combined organization are truly exciting, and I am looking forward to the next chapter.”
