Mazzone advises Chicago Industrial Fasteners on its sale to AFC Industries, a portfolio company of Bertram Capital Management
Mazzone & Associates (“Mazzone”) is pleased to announce that it acted as exclusive financial advisor to Chicago Industrial Fasteners, LLC (“CIF”) with respect to its sale to AFC Industries (“AFC”), a portfolio company of Bertram Capital Management. This is the fifth industrial transaction completed by Mazzone in 2023.
CIF is a leading distributor of specialty and standard fasteners throughout North America. Based out of West Chicago, IL, CIF serves OEMs, hardware providers, and material fabricators across a diverse range of industries including heavy truck, wind and solar generation, defense, and automotive. Products supplied span from multi-processed blueprint custom parts to high-volume common fasteners.
“This new chapter with AFC opens the door for us to continue to expand the solutions we can provide for our customers. It is exciting to have more resources to keep building on the foundation of service, teamwork, and partnership that we have established over the past 20 years,” noted John Price, cofounder of CIF. “The Mazzone team was integral at all stages of the sale process and helped us close quickly and efficiently.”
Cathy Price, co-founder of CIF commented, “Mazzone began advising us more than a year before we started the sale process. Their advice helped strengthen our business, which allowed us to be better prepared for the sale process and achieve an extraordinary outcome.”
“In CIF we found a business built around the same core commitment to providing excellent service that we strive for at AFC," said AFC CEO Kevin Godin. "The more we got to know John and Cathy and their team the more obvious it was that this was a great fit. Both of these businesses are better together, each brings key resources and capabilities that strengthen the other.”
Dustin Ramsey, Director at Mazzone, noted, “It was an honor working with John and Cathy on the transaction. They were passionate about finding the right home for their business and team, and we believe AFC is the right partner for them.”
About CIF
Chicago Industrial Fasteners was founded in 2003 and specializes in supplying difficult to produce, and often low-volume, products that many other competitors are unable or unwilling to provide. CIF’s robust vendor network and on-hand inventory selection allows them provide mission critical parts to customers on short notice, keeping their operations moving. For more information, please visit cifbolts.com.
About AFC
Headquartered in West Chester, OH, AFC Industries is a dynamic organization dedicated to providing supply chain management solutions on small components and tooling for a diverse base of manufacturers and assemblers across a broad range of industries. Through its experienced team and global resources, AFC excels at making customer manufacturing and assembly processes more efficient and cost-effective. For more information, please visit afcind.com.
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