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SALE OF P. F. MARKEY

P. F. MARKEY HAS BEEN ACQURIED BY AFC INDUSTRIES, A PORTFOLIO COMPANY OF BERTRAM CAPITAL


Birmingham, Michigan – February 21, 2023 – Angle Advisors is pleased to announce that AFC Industries, Inc. (“AFC”), a Bertram Capital portfolio company, has acquired P. F. Markey, Inc. (“PF Markey”). Angle Advisors acted as the exclusive investment banking advisor to PF Markey in completing the transaction.

Founded in 1977, PF Markey has grown to be one of the most innovative and capable distributors of cutting tools, abrasives and other plant supplies in the country. PF Markey helps customers enhance efficiency and profit by working with them to provide comprehensive efficiency and cost savings programs. They have been a leader in industrial vending and VMI solutions since the 1990’s. For additional information, please visit www.pfmarkey.com.


PF Markey will continue to be managed by Jim Terry, Tom Hagarty and the PF Markey management team. PF Markey will be part of the AFC tooling division along with Cline Tool.


“We have been very pleased with the performance of our tooling group and were looking to expand its capabilities and staff," said AFC CEO Kevin Godin. "The challenge was that our model is built around a set of value-added services that are not typical in the space, and we knew to keep our momentum we would need to find an excellent team with a similar philosophy and culture. Jim and his team checked every box. The alignment, culture, and go-to-market strategy were mirror images of one another. We are very excited to have them join the family and for us be able to continue to build on the excellent foundation they laid.”


“We had many choices in who we could have decided to move forward with. The more time we spent with the folks at AFC, the more it became obvious that they truly understood what was special about PF Markey," Terry added. "The capabilities and talent of the combined organization are truly exciting, and I am looking forward to the next chapter.”


Terry also commented, “We would like to thank the team at Angle Advisors for their hard work and expert guidance in helping PF Markey navigate the sale process. Angle’s thorough understanding of our business, the industry, and the buyer universe helped us find the best outcome for our shareholders, employees, and customers.”


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 C-parts essential to assembly. The Company also provides a wide array of value-added services, including kitting, packaging, assembly, and other customization specific to its customers' needs that reduce pain points and allow OEMs to focus on their core competencies. AFC's fulfillment solutions programs are customized based on customers' unique supply chain needs, with the ability to control and deliver inventory point-of-use on the plant floor, in an in-plant store, dock-to-dock, dock-to-jobsite, and/or on an on-demand basis. For more information, please visit www.afcind.com.


Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising. The firm’s professionals have completed 276 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.

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