WEST CHESTER, Ohio — AFC Industries has acquired Birmingham, England-based distributor Forward Industrial Products through its TFC business unit.
Terms of the deal were not disclosed.
Forward Industrial Products is an industry-leading supplier of C-class components, vendor-managed inventory services and MRO services, with a focus on enhancing the productivity and effectiveness of its customers’ manufacturing operations.
Forward provides a range of value-added services, as well as both standard and custom items and engineered products.
Birmingham-based Bracebridge Corporate Finance was the sole advisor to Forward for the transaction.
"We’re really pleased to be part of AFC and the growing TFC group. The partnership is a perfect fit for Forward Industrial," said Martyn Cleaver, managing director of Forward. "It opens up new opportunities within our existing customer network and enables us to share our 28 years of industry expertise with TFC's customers and bring their strengths to ours. Our management team is excited about the next chapter with AFC/TFC.”
AFC CEO Kevin Godin remarked, “It was a strategic goal of ours to expand our operations and capabilities in the U.K. and Europe in a way that would complement our TFC team. Forward is a great fit for us both culturally and geographically. Their dedication to service and solving problems for customers make them a natural integration for us.”
President of AFC Europe (TFC), Morgan Burgoyne, added, “Bringing these teams together immediately strengthens both and further establishes us as the leading component solutions provider in our key markets. The future is bright as we continue to invest in the right people and capabilities to provide superior market knowledge and service to our customers.”
