Capital Partners has agreed to recapitalize East Berlin, Connecticut-based The Fletcher-Terry Company, a manufacturer. No financial terms were disclosed for the transaction that will be done in partnership with Fletcher-Terry’s management.
East Berlin, CT – February 13, 2018 The Fletcher-Terry Company, LLC, an East Berlin, CT based manufacturer, is pleased to announce a recapitalization agreement with Fletcher-Terry’s management and Capital Partners®, a private investment firm in Norwalk, CT. The agreement was completed on January 23, 2018.
Founded in 1868, the Fletcher-Terry Company is made up of six globally recognized brands – Fletcher, Alfamacchine, Albin, AMP, Picture Perfect and Atlas Saw & Tool – marketed under the corporate umbrella Fletcher Business Group. Under the terms of the agreement, Fletcher-Terry will continue to operate with its existing management and the company’s well-established organizational structure. Blair Tomalonis will continue his role as President, and all functional responsibilities will remain unchanged.
With a reputation for high quality products and services, innovation and industry support, Fletcher-Terry is a recognized leader across a diverse range of industries, including custom and OEM picture framing; sign and digital graphics; hardware; woodworking; and float and glass fabrication industries. Products include multi-market, solution-driven technologies for frame joining; mitre cutting; substrate cutting; hanging and display; assembly and finishing; and automated glass cutting.
Capital Partners is a private investment firm, founded in 1982, whose principals have invested in more than 80 platform and add-on acquisitions across a variety of industries.
The Fletcher-Terry Company and Capital Partners plan to capitalize on Fletcher-Terry’s 150 years of business value, market respect and quality products and services. With a focus on continued growth, they will also expand the company’s solution-driven technologies to adapt to core market changes and future demands.
“We are excited to partner with Capital Partners,” said Blair Tomalonis, President, Fletcher-Terry Company. “The recapitalization agreement with Capital Partners provides Fletcher-Terry with the business resources and financial strength needed to continue bringing new solution-driven technologies to market that will benefit our current and future customer base and industries served.”
Mark Langer, Principal, Capital Partners, agreed and said “We are looking forward to supporting the Fletcher-Terry Company along with its management and employees to continue growing this well-respected, 150-year-old manufacturer. We believe that Fletcher-Terry brings significant and longstanding market value and complements our current strategic investment sectors of manufacturing, distribution and services.”
About Fletcher Business Group
The Fletcher Business Group is made up of six globally recognized brands – Fletcher, Alfamacchine, Albin, AMP, Picture Perfect and Atlas Saw & Tool, a privately owned subsidiary acquired in 2016. The company offers its customers solution-driven technologies for Frame Joining; Mitre Cutting; Substrate Cutting; Hanging and Display; Assembly|Finishing; Automated Glass Cutting; Saw Blade Technology and Sharpening Services. Fletcher Business Group is the recognized leader across a diverse range of industries, including custom and OEM picture framing; sign and digital graphics; hardware; woodworking; and float and glass fabrication industries. Originally founded in 1868, the company has a longstanding global reputation for high quality products, innovation and exceptional customer service. For more information, visit www.fletcher-terry.com
About Capital Partners
Capital Partners (www.capitalpartners.com) is a private investment firm founded in 1982. Its principals have invested in more than 80 platform and add-on acquisitions across a variety of industries. Based on the combination of solid investment discipline and its high-equity approach, it has successfully partnered with management teams through multiple economic cycles. Capital Partners is currently investing a $600 million committed private equity fund. Please contact John Willert, [email protected] or Thorston Suder, [email protected] with investment opportunities.