Fairfield, Ohio-based industrial distributor AFC Industries has acquired fasteners distributor QFC Industries, the company announced April 24. Financial details of the transaction were not disclosed.
Founded in 1973 as Quickway Fastener Company and later rebranding as QFC, the company is a distributor of fasteners and other small components. QFC is based in Arlington, Texas, and serves manufacturing and assembly customers in the U.S., Mexico, Europe and China.
“Our team and our business have been successful and were growing, so it was not an easy decision to sell, and once we decided to do so, we had many potential partners that we could have selected,” QFC Owner and President Clay Roark said in a news release. “We felt AFC brought a unique combination in that they have an excellent reputation both as operators on the distribution side as well as a tremendous track record for integrity and professionalism in how they handle acquisitions. We wanted to be sure our customers and our employees were going to be treated well and that we picked a partner who would do what they said they would do.”
“With QFC, we were able to find a great team that operates with the same dedication to customer service as AFC does, and allows us to address important strategic objectives,” AFC CEO Kevin Godin said in the release. “For example, QFC strengthens our presence in the South and West, deepens our capabilities in at least two key customer markets, and adds talent and depth to our support teams. We believe there are several immediate opportunities on which the newly combined businesses will be better positioned to execute.”
QFC is AFC’s third acquisition of 2023, following cutting tools distributor PF Markey in February and fasteners distributor Motor City Industrial in January. It’s also AFC’s eighth acquisition since it was privately acquired by Bertram Capital in April 2021.