All Integrated Solutions, a portfolio company of High Road Capital, has closed its buy of Great Lakes Fasteners Corp. Financial terms weren’t announced. Grand Rapids, Michigan-based Great Lakes distributes fasteners and industrial components as well as provides vendor-managed inventory (VMI) programs to original equipment manufacturers.
IGH ROAD CAPITAL PARTNERS’ PORTFOLIO COMPANY ALL INTEGRATED SOLUTIONS ACQUIRES GREAT LAKES FASTENERS
NEW YORK, August 3, 2016 – High Road Capital Partners (www.highroadcap.com) announced today that its portfolio company All Integrated Solutions (AIS) has completed the acquisition of Great Lakes Fasteners Corporation.
Based in Grand Rapids, Michigan, Great Lakes Fasteners is a value-added distributor of fasteners and industrial components and provides vendor-managed inventory (VMI) programs to original equipment manufacturers.
“Great Lakes Fasteners’ focus on custom VMI programs and high-touch customer service are a compelling fit with AIS,” said Ben Schnakenberg, Partner, High Road Capital Partners. “This acquisition expands AIS’s reach into Michigan and the automotive and material handling industries, and solidifies AIS’s position as the leading independent distributor of industrial OEM components and MRO products in the Upper Midwest.”
“The Great Lakes Fasteners’ team shares our commitment to working closely with customers to meet their needs and help them achieve production and operational efficiencies,” said Jim Ruetz, CEO of All Integrated Solutions. “We are excited to introduce our expertise in MRO products, production components and assembly tools to Great Lakes, as well as to leverage Great Lakes’ capabilities in value-added kitting and small assembly services across AIS.”
“We are proud of the Great Lakes Fasteners’ team’s achievements over the past forty years, and we are excited to have found in AIS and High Road the right partners to build upon that success going forward,” said Gordon Vandermeulen, Chairman of Great Lakes Fasteners.
Mr. Schnakenberg led the transaction for High Road and was assisted by Scott Rubino, Vice President; James Karle, Associate; and Operating Partner William Hobbs. Twin Brook Capital Partners provided financing for the transaction. Corporate Finance Associates advised Great Lakes Fasteners. AIS’s acquisition of Great Lakes Fasteners closed August 2, 2016. Transaction consideration was not disclosed.
AIS, formerly known as Accurate Components & Fasteners, was acquired by High Road in 2012. Great Lakes Fasteners is the third acquisition completed by AIS under High Road’s ownership.
High Road Capital Partners has completed 39 transactions – 14 platform investments, 20 add-on acquisitions and five exits – since its founding in 2007.
For further information, please contact Ben Schnakenberg of High Road Capital Partners at (212) 554-3269.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and has raised over $470 million of committed capital since inception. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. www.highroadcap.com
All Integrated Solutions (AIS)
All Integrated Solutions (AIS), which was founded in 1962, is a leading value-added distributor of industrial fasteners and components, MRO supplies and assembly tools. AIS offers these products along with vendor managed inventory (VMI) services to original equipment manufacturers. AIS is headquartered in Franksville, Wisconsin. www.allintegrated.com
Great Lakes Fasteners
Great Lakes Fasteners, founded in 1937 and formerly known as Grand Rapids Bolt & Nut Co., Inc., is a leading independent distributor of industrial fasteners, Class C components and supplies to manufacturers in Western and Central Michigan. Providing world class sourcing, inventory management and high-touch service, Great Lakes is a critical partner to its customers. Great Lakes Fasteners is headquartered in Grand Rapids, Michigan. www.glfasteners.com