Heritage Capital Group Announces the Successful Sale of Fab-Tech Supply, Inc. to FT Acquisition Company, LLC
AUGUST 2015 -
Heritage Capital Group (“Heritage”) is pleased to announce the successful sale of Fab-Tech Supply, Inc. (“Fab-Tech”) to FT Acquisition Company, LLC “(FAC”).
Fab-Tech was founded in 1992 in Jacksonville, Florida by Marty Hussey and Chuck Hullender. Fab-Tech is a manufacturer of specialized hardware used in the fabrication of electrical sheet metal enclosures. In addition, the Company is a distributor of metal hinges and stainless steel fasteners.
The concept, to market enclosure hardware to the electrical enclosure industry, grew from the founders’ joint experience in the industry. They knew that an inordinate amount of resources were expended in the manufacture or procurement, control and storage of a myriad of low-value but essential parts necessary for the manufacture of sheet metal enclosures. Providing a single source for these parts that are grouped, assembled, and packaged in a manner that facilitates the most efficient use for the enclosure factory is the value proposition that Fab-Tech brings to its customers.
FAC plans to modernize the operations of Fab-Tech to better serve the existing customer base and acquire new customers. In addition, FAC will focus on diversifying the current product mix to serve additional industries.
The Heritage team of Mac Holley and Howard Serkin acted as financial advisor and intermediary on behalf of Fab-Tech. Mac Holley, who served as the lead advisor on the transaction stated, “Fab-Tech has a unique niche in the metal enclosure industry. It was a pleasure to work with Marty and his team to find the right buyer to continue the Company’s long track record of success. The entrepreneurs behind FAC will bring the resources to take Fab-Tech to the next level.”
Marty Hussey, acting President of Fab-Tech commented, “Heritage did an outstanding job marketing our Company and finding the right buyer. Their guidance in preparing us for the sale, and their leadership in negotiating the terms of the sale were the key to our success. Finding a buyer with the right chemistry to mesh with our team was important to us. We absolutely could not have done it without them.”
Heritage Capital Group provides a range of investment banking services, including buy-side and sell-side M&A advisory work, business valuations, litigation support, exit planning, value enhancement and strategic advisory services, including restructuring and reorganization consulting. Heritage Capital Group is a FINRA regulated broker-dealer and a founding member of M&A International Inc., which extends their capabilities on a global scale.