Bracebridge Corporate Finance has advised on the sale of Forward Industrial Products Group, based in Birmingham, to TFC Europe, part of US based AFC Industries.
Forward Industrial Products Group is an established supplier of c class components, vendor managed inventory services and MRO services to a range of customers across a range of industry sectors. It enhances the productivity and effectiveness of its customers’ manufacturing operations. It provides a range of value-added services, sourcing standard and specialist fasteners and other critical components.
Birmingham based Bracebridge Corporate Finance advised the shareholders on a sale of 100% of the shares to TFC. Andy Moore, Managing Director of Bracebridge commented: “Martyn and the rest of the management team are totally committed to growing the business under TFC’s ownership. The opportunities for the company are very exciting”.
“We’re really pleased to be part of the growing TFC group. The partnership is a perfect fit for Forward Industrial,” said Martyn Cleaver, Managing Director of Forward. “It opens up new opportunities within our existing customer network and enables us to share our 28 years of industry expertise with TFC’s customers. We will continue to be run by our same management team and operate out of our premises in Birmingham.”
Martyn added: “We decided to seek a buyer for our company as we recognised that by being part of a larger group such as TFC would open up a world of new opportunities. We appointed Bracebridge Corporate Finance to help us identify a suitable buyer and lead us through the sale process. Andy Moore was hands on throughout the process and led all negotiations on our behalf. He was instrumental in making the deal happen”.
TFC is a leading provider of vendor managed inventory solutions and technical engineering products in Europe. It has supplied engineering products and c class parts across Europe for over 60 years. Its focus is on helping customers improve manufacturing efficiencies and providing design expertise, VMI solutions and innovation in technical product development. TFC excel at customer service from their locations in the UK, Germany and Czech Republic and distribute to customers worldwide. TFC is a Business Unit of AFC Industries, one of the world’s leading VMI solutions providers dedicated to providing supply chain management solutions on small components and tooling for a diverse base of manufacturers and assemblers across a broad range of industries around the world.
