New York, NY – Hisco, an employee-owned, specialty distribution company serving aerospace, electronic assembly, medical device and other industrial markets, today announced the acquisition of Absolute Industrial Fabricators (AIF).
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HISCO ANNOUNCES ACQUISITION OF
ABSOLUTE INDUSTRIAL FABRICATORS
New York, NY – Hisco, an employee-owned, specialty distribution company serving aerospace, electronic assembly, medical device and other industrial markets, recently announced the acquisition of Absolute Industrial Fabricators (AIF). PCE Investment Bankers sourced the acquisition and served as exclusive financial advisor to Hisco. This is the fifth acquisition PCE has helped Hisco close since 2012.
Founded more than 40 years ago and based in Addison, IL, AIF offers a broad range of fabricating capabilities and materials to provide unique solutions for the OEM industry. AIF will continue to operate independently as a part of Hisco’s fabrication group and will be managed by Precision Converting, a division of Hisco.
“Together, Precision Converting and AIF can offer a wealth of complementary capabilities, enhancing our ability to service customers and providing clear benefits,” said Bob Dill, President and CEO of Hisco. “Our combined customer base will significantly increase our market share and purchasing power, allowing us to leverage relationships with key suppliers such as DuPont, FujiPoly and ITW Formex. The complementary nature of the two businesses lends itself to a smooth transition and promises many new opportunities for our customers.”
PCE’s Michael Rosendahl stated, “AIF is an excellent addition to Precision Converting. Hisco’s capabilities and geographic presence have been enhanced by this acquisition. All parties should see significant long-term benefits from this combination.”
Hisco’s Bob Dill continued “PCE continues to be a trusted partner in our acquisition process. We appreciate all of their efforts.”
About Hisco
For more than 40 years, Hisco has delivered value to customers through quality products, process solutions and local inventory. Today, the international branch network includes 34 stocking locations - 23 in the United States (including Puerto Rico), ten operated by the HiscoMex subsidiary in Mexico and one operated by HiscoCan in Canada. Two Precision Converting facilities provide value-added fabrication and the AMG Division offers unique custom packaging solutions for adhesives, sealants and specialty chemicals. Hisco also offers vendor-managed inventory programs, specialized warehousing and logistic services.
About AIF
Founded in the early 1970s, AIF has partnered with material experts for decades to provide custom, close-tolerance components constructed from a wide range of materials including plastics, fiber, laminates, rubber, foams and pressure-sensitive adhesives. The company’s product line features a host of products used in manufacturing, fabricating and assembly processes. AIF supplies products and solutions nationally to manufacturers in virtually every industry, working with a wide range of materials, applications and environments.
PCE is a leading financial services firm for mid-market companies, offering clients a full range of investment banking, valuation and advisory services. It provides M&A support, ESOPs, management buyouts (MBOs), bankruptcy advisory, restructuring, and fairness and solvency opinion advisory services. Additionally, the firm offers management consulting, succession planning, strategic analysis and litigation support. Experienced in all market sectors, PCE has established several specialty practice areas, including Consumer, Diversified Industrial - Infrastructure & Power, Healthcare, Construction & Building Products, Manufacturing, and Food. Offices in Orlando, Atlanta, Chicago and New York.
