Babson Capital Management has made an undisclosed investment to back Incline Equity Partners‘ buy of AFC Holdings Inc. Based in Fairfield, Ohio, AFC is a provider of supply chain management services and vendor-managed inventory programs for original equipment makers.
CHARLOTTE, N.C. (July 9, 2015) – Babson Capital Management, a leading global asset management firm with more than $217 billion in assets under management, today announced it provided subordinated debt and made an equity co-investment to support Incline Equity Partners’ acquisition of AFC Holdings Inc.
Founded in 1987 and based in Fairfield, Ohio, AFC is a leading provider of supply chain management services and vendor-managed inventory programs to original equipment manufacturers. The company specializes in fasteners and other essential assembly components, and also provides customized kitting, packaging, assembly and other value-added services in their customers’ manufacturing and production facilities.
“Incline Equity Partners is pleased to partner with Babson on our investment in AFC Holdings,” said Jack Glover, Partner with Incline. “We value Babson’s deep expertise in the lower middle market as well as its speed, reliability and flexibility in meeting our needs, and we look forward to working with the Babson team on future opportunities.”
“Babson has had the pleasure of working with the Incline Equity team for more than a decade, and we are grateful for the opportunity to partner once again on the investment in AFC Holdings,” said Michael L. Klofas, Managing Director and head of Babson’s Mezzanine & Private Equity Group. “AFC offers its customers a compelling value proposition, which includes increased supply chain reliability and lower overall production costs. We are excited about AFC’s growth potential, as the Incline team and management work together to expand its business.”
About Incline Equity Partners
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm focused on making investments in lower middle-market growth companies, focusing on companies with enterprise values of $30 million to $125 million across a variety of industry sectors including value-added distribution, specialized light manufacturing and business and industrial services. Typical investment types are management buyouts, ownership transitions for privately held businesses and corporate divestitures. Incline Equity Partners has experience with investing, mergers and acquisitions, leveraged finance, leveraged buyouts and growth capital.
Learn more at www.inclineequity.com.
About Babson Capital Management
Babson Capital Management (Babson) is a leading global asset management firm with over $217 billion in assets under management as of March 31, 2015. Through proprietary research, analysis and a focus on investment fundamentals, the firm and its global affiliates develop products and strategies that leverage its broad expertise in global fixed income, structured products, middle market finance, commercial real estate, alternatives and equities. Part of the MassMutual Financial Group, Babson maintains a strong global footprint with operations on four continents and clients in over 20 countries. Learn more at www.babsoncapital.com.