AFC Industries Acquires Allied Inventory Systems

Fulton Asset Management Acquires AFCO Industries

August 25, 2025

Building Products

Fulton Asset Management, a family-backed investment platform based in Chicago, has acquired AFCO Industries, Inc., a vertically integrated U.S. manufacturer of aluminum, fiberglass, vinyl, and composite building products and a provider of CNC metal fabrication and contract manufacturing services headquartered in Alexandria, Louisiana. AFCO's existing leadership will remain in place; Fulton said the deal expands its industrial portfolio and reflects a long-term commitment to U.S. manufacturing.

AFC Industries (Bertram Capital) Acquires Chicago Industrial Fasteners

December 31, 2023

Industrial Services

AFC Industries, a portfolio company of Bertram Capital Management, has acquired Chicago Industrial Fasteners, a West Chicago, Illinois-based distributor of specialty and standard fasteners. Mazzone & Associates acted as exclusive financial advisor to Chicago Industrial Fasteners; the deal expands AFC's supply-chain capabilities and product offerings for OEMs across heavy truck, renewable energy, defense and automotive end markets.

AFC Industries Acquires White Distribution & Supply

August 9, 2023

Logistics & Distribution

Fairfield, Ohio-based AFC Industries (a Bertram Capital portfolio company) has acquired Muscatine, Iowa-based White Distribution & Supply (WDS) from Slate Capital Group. The add-on purchase expands AFC's distribution footprint and capabilities in MRO, fasteners, packaging and inventory/LEAN solutions; terms were not disclosed.

AFC Industries Acquires QFC Industries

April 25, 2023

Industrial Services

AFC Industries has acquired QFC Industries, a fastener distributor headquartered in Arlington, Texas. The add-on deal (terms undisclosed) expands AFC’s geographic presence in the South and West, deepens its distribution and VMI capabilities, and brings QFC’s team and two distribution centers into AFC’s platform backed by Bertram Capital.

Capitol Food Company Acquires Allied Sales & Distribution, Inc.

February 27, 2022

Food & Beverage

Capitol Food Company acquired the assets and goodwill of Allied Sales & Distribution, Inc., effective February 27, 2022. Allied, a Vernon, California-based specialty bakery ingredient distributor and third-party storage/logistics provider with more than 53 years of history, will be integrated to expand CFC's warehousing, distribution footprint and product offering in the bakery and functional food ingredients market.

AFC Industries Acquires Master Distribution

August 27, 2020

Logistics & Distribution

AFC Industries, a portfolio company of Incline Equity Partners, has acquired Master Distribution, a Brunswick, Ohio-based value-added distributor of channel and pipe fittings, fasteners and related accessories. The deal expands AFC's product portfolio and strengthens its distribution capabilities and geographic footprint within commercial, industrial and infrastructure end markets.