AFC Industries Acquires PF Markey Companyhdfadmin
February 10, 2023
AFC Industries has acquired Saginaw, MI based PF Markey Company. (https://pfmarkey.com/) Terms of the deal were not disclosed.
Founded in 1977, PF Markey has grown to be one of the most innovative and capable distributors of cutting tools, abrasives, and other plant supplies in the country. Markey helps customers enhance efficiency and profit by working with them to provide comprehensive efficiency and cost savings programs. They have been a leader in industrial vending and VMI solutions since the 1990’s. PF Markey will continue to be managed by Jim Terry, Tom Hagarty, and the Markey management team. Markey will be part of the AFC tooling division along with Cline Tool.
AFC CEO Kevin Godin said, “We have been very pleased with the performance of our tooling group and were looking to expand its capabilities and staff. The challenge was that our model is built around a set of value-added services that are not typical in the space and we knew to keep our momentum we would need to find an excellent team with a similar philosophy and culture. 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.”
PF Markey owner Jim Terry added, “We had many choices in who we could have decided to move forward with. 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.”
About AFC Industries
Headquartered in Fairfield OH, AFC Industries is a dynamic organization dedicated to providing supply chain management solutions for fasteners, tooling, and assembly components to original equipment manufacturers, assembly plants, and other users of these products. Their supply solutions include Vendor Managed Inventory, Stock and Release programs, Light Assembly, Kitting, and Private Labeling services amongst others. AFC supports a diverse base of manufacturers across a broad range of industries. Their experienced team has a proven track record of helping manufacturers and assemblers reduce cost, improve quality, and increase efficiency. (www.afcind.com)
In April 2021 AFC Industries was acquired by Bertram Capital, based in Foster City CA. (www.bertramcapital.com).
Read more about AFC Industries recent acquisitions. Click here.
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