M&A Deal Summary

AFC Industries Acquires Motor City Industrial

On January 30, 2023, AFC Industries acquired distribution company Motor City Industrial from Kian Capital Partners and Oakland Standard

Acquisition Highlights
  • This is AFC Industries’ 4th transaction in the Distribution sector.
  • This is AFC Industries’ 5th transaction in the United States.
  • This is AFC Industries’ 1st transaction in Michigan.

M&A Deal Summary
Date 2023-01-30
Target Motor City Industrial
Sector Distribution
Buyer(s) AFC Industries
Sellers(s) Kian Capital Partners
Oakland Standard
Deal Type Add-on Acquisition
Advisor(s) TM Capital Corp. (Financial)
Honigman
Robinson Bradshaw (Legal)

Target

Motor City Industrial

Hazel Park, Michigan, United States
website
Motor City Industrial is a distributor of fasteners and related products to a variety of industries including automotive, trucking, defense, construction, and automation tooling. Motor City Industrial was founded in 1965 and is based in Hazel Park, Michigan.

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Buyer(S) 1

Buyer

AFC Industries

College Point, New York, United States

website

Category Company
Founded 1987
Sector Manufacturing
DESCRIPTION

AFC Industries is a provider of supply chain management services and vendor-managed inventory programs to original equipment manufacturers. The company specializes in fasteners and other essential assembly components. It also provides a wide array of value-added services, including kitting, packaging, assembly, and other customization specific to their customers’ needs. AFC Industries was formed in 1987 and is based in College Point, New York.

DEAL STATS #
Overall 6 of 9
Sector (Distribution) 4 of 7
Type (Add-on Acquisition) 6 of 9
State (Michigan) 1 of 1
Country (United States) 5 of 8
Year (2023) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 TFC Europe

East Sussex, United Kingdom

TFC Europ is a manufacturer of technical fastener components for the industry, with an unrivaled reputation for delivering innovative products, supply solutions, and exemplary service. TFC has six technical and service centers across the UK and Germany providing 33,000 different fasteners and springs to its customer base, with an exclusive license in the UK and Germany to supply the range of world-class Smalley springs. TFC Europe was founded in 1960 and is based in East Sussex, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-08 WDS

Fairbury, Illinois, United States

WDS is an industrial distribution and supply chain management company. White Distribution & Supply, WDS is a provider of wide variety of adhesives and sealants including epoxies, acrylics, urethanes, and silicones and technical expertise. WDS was founded in 1984 and is based in Fairbury, Illinois.

Buy -

Seller(S) 2

SELLER

Kian Capital Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2011
PE ASSETS 825M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kian Capital Partners is a private equity firm focused on providing equity and junior capital to support growth, buyouts, shareholder liquidity needs, recapitalizations, divestitures, and refinancings of profitable lower middle-market companies with up to $150 million in revenue. Kian will consider opportunities throughout the US and seeks businesses operating in the business services, distribution, healthcare services, and niche manufacturing sectors. Kian Capital Partners was formed in 2011 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 10 of 11
Sector (Distribution) 3 of 3
Type (Add-on Acquisition) 3 of 4
State (Michigan) 1 of 1
Country (United States) 10 of 11
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Riverside Oral Surgery

River Edge, New Jersey, United States

Riverside Oral Surgery currently operates multiple state-of-the-art surgical facilities across five counties in the state. Each of the practice's surgeons utilizes cutting-edge technology in digital imaging and scanning and offers a full spectrum of services, from wisdom teeth extractions, dental implants, to surgical management of oral cancer, to temporo-mandibular joint disorder and full reconstructive procedures. Riverside Oral Surgery was founded in 2007 and is based in River Edge, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-01 Team Air

Nashville, Tennessee, United States

Team Air is a wholesale distributor of HVAC equipment, parts and supplies to residential and commercial contractors in the Southeast US. Team Air is based in Nashville, Tennessee.

Buy -
SELLER

Oakland Standard

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Oakland Standard Co. is a private equity firm focused on lower middle-market (sub $10 million of EBITDA) industrial companies in the US and Canada. Specific areas of interest include niche manufacturers, value-added distributors, machinery, automotive, and building products. Prospective transaction situations include family-owned companies, recapitalizations, consolidations, divestitures, and out-of-favor industries. Oakland Standard Co. is based in Birmingham, Michigan.

DEAL STATS #
Overall 1 of 1
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Paramount Fence

Livonia, Michigan, United States

Paramount Fence is a fence company providing vinyl, wood, chain link, aluminum and specialty solutions. Paramount Fence has a showroom in Livonia and services all of Southeast Michigan.

Buy -
Mergr

Product

Company

Legal