Montage Partners has acquired Military Fasteners, a B2B e-commerce distributor of fasteners.
Military Fasteners is a B2B e-commerce distributor specializing in military specification (mil-spec) fasteners, primarily serving companies in the aerospace and defense industries. Mil-spec fasteners are specialized hardware components designed and manufactured to meet stringent military specifications, including detailed attributes such as dimensions, tensile strength, hardness, thread type, drive type, material qualities, and plating.
Headquartered in Melbourne, Florida, Military Fasteners maintains a large and diverse inventory of fasteners that can be rapidly procured and fulfilled. According to the company, its online procurement and fulfillment services appeal to Millennial and Gen Z procurement professionals, who are digitally native and prefer making online purchases. Founded in 2016, Military Fasteners has organically expanded its revenue nearly fivefold since 2019.
Montage Partners partnered on this transaction with incoming CEO David Ficadenti, who has spent the majority of his career in the aerospace and defense industries. Most recently, Mr. Ficadenti served as Vice President, Corporate Development and Licensing at Honeywell, where he led a 30-person team and had full profit and loss responsibility for Honeywell’s licensing business. He also oversaw the company’s legacy product line monetization and channel partner repair aftermarket.
“I’m thrilled to partner with Montage Partners to lead Military Fasteners into its next phase of growth,” said Mr. Ficadenti. “Montage’s people-first philosophy aligns with my leadership style and values, and we both take a long-term approach to investing. Military Fasteners has a truly novel business model in the aerospace and defense industry, and I’m excited to work with Director of Operations, Rebekah Disser, and the rest of the team to further accelerate the company’s success.”
Following the close of the transaction, Military Fasteners plans to further develop its marketing and business development capabilities and will open a new distribution facility in Phoenix to reduce shipping times and better serve customers in major aerospace and defense hubs, including Dallas, Los Angeles, Phoenix, Seattle, and Wichita.
“Military Fasteners plays a critical role in the aerospace and defense supply chain, given the importance of minimizing fleet downtime during maintenance, repair, and overhaul operations,” said Rob Wolfman, co-managing partner at Montage Partners. “The company’s rapid growth and success are underpinned by a relentless focus on exceeding customer expectations with every order placed, day in and day out. We have tremendous respect for what’s been built to date and look forward to driving further innovation and customer success with David at the helm.”
“I’m excited to help lead Military Fasteners into our next chapter with David and Montage Partners,” said Ms. Disser. “We’ve already built one of the largest and most diverse online fastener catalogs and pride ourselves on fulfilling orders faster than anyone else in the industry. With David’s expertise and Montage Partners’ track record of successfully growing businesses, I look forward to further expanding our offerings and capabilities.”
“David is a perfect fit for Military Fasteners as it reaches an inflection point in its growth,” added Chris Norwood, vice president at Montage Partners. “This is the type of win-win-win scenario we strive to achieve with extraordinary leaders through our Successor President Program. David’s industry experience and successful track record, combined with Rebekah’s operational focus and years of experience in the business, provide a strong foundation for the company’s next chapter.”
Montage Partners invests in North American companies with EBITDA between $1.5 million and $7 million, focusing on business services, consumer, healthcare, industrial, and technology sectors. The firm, with offices in Scottsdale, Arizona, and Salt Lake City, Utah, was founded in 2004 and is led by managing partners Jordan Tate and Rob Wolfman.
© 2024 Private Equity Professional | August 30, 2024
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