Fairfield, Ohio-based industrial distributor AFC Industries has further expanded its footprint in Michigan, announcing Feb. 10 its acquisition of PF Markey Company, a distributor of cutting tools in Saginaw. Financial details of the transaction were not disclosed.
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The move comes less than a month after AFC Industries’ acquisition of Motor City Industrial, a distributor of fastener products and class-C components in Hazel Park. It’s also AFC’s seventh acquisition since it was privately acquired by Bertram Capital in April 2021.
Founded in 1977, PF Markey provides abrasives and other plant supplies in addition to cutting tools. PF Markey will join AFC’s tooling division, according to a news release, alongside Cline Tool, a custom tool manufacturer and distributor acquired by AFC last fall.
“We have been very pleased with the performance of our tooling group and were looking to expand its capabilities and staff,” AFC CEO Kevin Godin said in the release. “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,” PF Markey owner Jim Terry added in the release. “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. The capabilities and talent of the combined organization are truly exciting, and I am looking forward to the next chapter.”
Terry and the rest of the PF Markey management team will continue with the company following the acquisition, according to the release.
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