High Road Capital Partners has sold All Integrated Solutions to publicly-traded MSC Industrial Supply for $86 million. The sale of the company marks the sixth exit for the firm’s debut fund, High Road Capital Partners Fund I LP, which closed in 2008 with $150 million of committed capital.
All Integrated Solutions (AIS) – formerly known as Accurate Components & Fasteners – was acquired by High Road in December 2012. The company is a distributor of industrial fasteners and Class C components (low cost and high volume commodity parts), MRO supplies and assembly tools. AIS offers these products along with vendor managed inventory services to original equipment manufacturers.
AIS was founded in 1962 and has operations in Wisconsin, Minnesota, Michigan, Iowa, Indiana and North Dakota. The company has approximately 130 employees and is headquartered south of Milwaukee in Franksville, WI (www.allintegrated.com).
Under High Road’s ownership, AIS’s revenue tripled and the company made three acquisitions: All Tool Sales in 2013; Williams Fastener & Supply in 2014; and Great Lakes Fasteners in 2016. These acquisitions helped grow what was a single-location distributor of fasteners and Class C components at acquisition in 2012 into a regional leader with seven locations in six states.
“High Road made significant investments to support AIS’s growth, including opening new locations, expanding the company’s sales force, adding to the management team, and upgrading its ERP and CRM systems,” said Ben Schnakenberg, Partner, High Road Capital Partners. “We are proud to have partnered with AIS’s outstanding management team, led by Jim Ruetz, to take the company to the next level.”
High Road invests in manufacturing, service, or value-added distribution businesses with revenues of $10 million to $100 million and EBITDAs of $3 million to $10 million. High Road has completed 48 transactions – 18 platform investments, 23 add-on acquisitions and seven exits – since its founding in 2007. High Road is based in New York (www.highroadcap.com).
MSC Industrial Supply (NYSE: MSM), the buyer of AIS, is one of the largest industrial equipment distributors in the world with annual revenues of $2.9 billion. The company was founded in 1941 and is headquartered in Melville, NY (www.mscdirect.com).
BB&T Capital Markets was the financial advisor to AIS.
© 2018 Private Equity Professional | May 2, 2018