New York, NY, April 18, 2023 – Neuberger Berman Capital Solutions (“NB Capital Solutions”) announced a direct investment in support of Bertram-backed AFC Industries (“AFC”, the “Company”) for their acquisitions of Fast Bolt and QFC (“Fast Bolt”,”QFC”, the “Targets”). NB Capital Solutions participated in the equity raise to fund these transactions.
“The Fastbolt and QFC acquisitions represents an opportunity for AFC to meaningfully expand and diversify its product portfolio and end-market mix,” said Nikhil Krishnan, Managing Director, NB Capital Solutions. “NB Capital Solutions is excited to participate in this transaction and continue our longstanding partnership with Bertram.”
Fast Bolt, based in St. Louis, MO, provides engineered fasteners and specialty components as well as engineering support, sales & marketing, and high-touch service to customers in automotive and industrial end-markets.
QFC, based in St. Louis, MO, is a distributor of class-C parts and accessories with a primary focus on fasteners and strut accessories. The Target has a wide selection of 43,000+ products, acting as an outsourced, scaled purchasing team for its 3,000+ customers.
Simpson Thacher & Bartlett LLP served as legal advisor to NB Capital Solutions.