- TM Capital served as financial advisor to Motor City on the deal while Honigman and Robinson Bradshaw provided legal advice
- Kian has $425 million of capital under management
- Oakland invests in lower middle market industrial businesses
Kian Capital Partners and Oakland Standard have exited their investment in Michigan-based Motor City Industrial, a distributor of fasteners and other consumable industrial products, through a sale to AFC Industries, a portfolio company of Bertram Capital. No financial terms were disclosed.
AFC is a provider of supply chain solutions.
“We are passionate about helping companies create sustainable, long-term success and drive to persevere despite the inevitable challenges that come along the way,” said Rick Cravey, a co-founder and partner at Kian Capital, in a statement. “The Motor City of today is the result of a significant team effort showcasing the true meaning of genuine partnership. We want to thank all of our partners in the deal, particularly Joe Stephens and the rest of the management team, who helped transform the company into the professionalized business it has become. We are proud of the milestones we achieved together and wish them all continued success as they begin the next chapter with AFC.”
TM Capital served as financial advisor to Motor City on the deal while Honigman and Robinson Bradshaw provided legal advice.
Kian has $425 million of capital under management. The investment firm targets consumer, services, value added distribution and specialty manufacturing.
Oakland invests in lower middle market industrial businesses.
Correction: An earlier headline of this news item contained missing information/words. It has since been rectified.