Frontenac has announced that it has acquired EFC International (“EFC” or the "Company"), a distributor of highly engineered fasteners.
EFC operates globally and provides solutions such as engineering support, sales and marketing, distribution, and high-touch service to customers in the automotive, industrial, and other technical end markets. CEO, Matt Dudenhoeffer, along with the current executive team, will continue in their roles leading the Company.
Dudenhoeffer said: “We have enjoyed strong growth over the past several years as we executed on a number of key initiatives that have expanded our global reach as well as our customer and supplier base. With Frontenac as our new partner, we are excited to leverage their industrial distribution expertise to continue our expansion plans, both organic and inorganic, as we work to continue to increase market share both domestically and abroad.”
Ron Kuehl, Managing Director at Frontenac, said: “We identify and invest in industry leaders that are growing in excess of the market and provide first rate service to customers and suppliers alike. EFC has grown impressively and perfectly fits our target profile. We look forward to deploying our playbooks, working with the team to accelerate the pace of progress, and having another successful industrial distribution investment for Frontenac.”
Neal Sahney, Principal at Frontenac, added: “EFC has performed exceptionally well over decades and generated record results this past year. The team has successfully executed on a set of initiatives and has proven to be adept at both investing in the business for the long-term and growing earnings. The future is bright for EFC, and we are looking forward to collaborating with the team in support of their strategic plan.”