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Torqx Capital Partners acquires European fastener group Fabory from W.W. Grainger
Chicago / Tilburg, the Netherlands, 2 June 2020 – Torqx Capital Partners, a Dutch private equity company today announced that it has acquired Fabory Group (FG), a leading European supplier of quality fastener solutions and industrial products from Fabory’s parent company W.W. Grainger Inc.
As a strategic investor, Torqx will be able to support Fabory in its ambition to further strengthen its position as specialist distributor in fasteners, to enhance the customer experience and to grow the group organically and through add-on acquisitions. Fabory and Torqx want to further strengthen Fabory’s leading position in the highly fragmented European fastener market and drive economies of scale, while maintaining and strengthening its specialist position as one of the top fastener companies in Europe.
Fabory, headquartered in Tilburg, the Netherlands is active in 11 European countries and has revenues of over €220 million and 1,100 employees. Fabory is a strong and well-positioned fastener brand with a comprehensive product range, a strong and talented team, a best-in-class IT and sourcing system and a European-wide footprint with a strong home market in the Benelux.
Fabory has received positive advice on this transaction from its Works Councils. The transaction is not subject to any financing condition, but is subject to the standard regulatory approvals. This deal is expected to close in the coming months.
Ronald Baarslag, CEO of Fabory Group: “Finding a new strategic partner for Fabory was an important next step in our strategy, while focusing on further growth and with an eye on the consolidation of the European fastener industry. As a business we’re in good shape and in the past years we have built a new fundament for the growth of Fabory. While strengthening our business, we also see that the market further developed with customers increasing in size and behavior, further digitalization and competitors bundling forces. Therefore we need to accelerate our growth and expand our European presence, while remaining in the drivers’ seat. With Torqx we are delighted to have found a partner that will support us in executing our strategy and add value. We remain focused on delivering an effortless experience to our customers and serving in the best interest of our employees and new shareholder.”
Harmen Geerts, Managing Partner of Torqx, comments: “Based on our extensive experience and strong track record with technical distribution businesses, we see a strong fit between Fabory and Torqx. We can help the company to strengthen its position as leading fastener specialist in its core markets and achieve its full potential.”
DG Macpherson, Chairman and CEO of Grainger said: “I want to thank the Fabory team for their innovative and customer-focused approach. I’m confident the acquisition by Torqx will better align with Fabory’s growth objectives. At the same time, Grainger remains focused on providing value to our customers, executing our strategy and delivering profitable growth through our high-touch and endless assortment offerings.”
About Fabory
Fabory Group is a leading European supplier of a wide range of quality fastener solutions and industrial products to a broad range of industries (OEM, MRO etc.). The company, headquartered in Tilburg, the Netherlands is active in 11 European countries and has activities and sourcing centres in India and China. The group has revenues of over €220 million and 1,100 employees and is strongly positioned for its next stage of growth. Fabory is a strong, innovative and reliable partner to its customers. It offers a one-stop-shop with more than 400,000 products (of which 120,000 in stock) to more than 60,000 customers and handles over 7.5 million orders a year, including 24/7 webshop ordering. The group’s history goes back to 1947. In 2011, Fabory became a part of W.W. Grainger, Inc. (NYSE: WWG), a Fortune 500 company and North America’s leading broad line supplier of maintenance, repair and operating products, with expanding operations in Europe, Asia and Latin America. For more information please visit: www.fabory.com.
About Torqx
Torqx Capital Partners is a Benelux based private equity company that invests in medium-sized companies with significant value creation potential. Situations include growth-, buy-and-build-, performance improvement-, turnaround- and transformational investments across a range of industries including manufacturing, distribution and services. Torqx acquires majority positions based on a partnership with co-shareholders and management teams, offering the companies smart capital, network, expertise and talent to support implementation of their plans and achieve their full potential. The Torqx team consists of 12 highly experienced and skilled professionals who look beyond spreadsheets and understand what it takes to build businesses and increase momentum. Torqx currently invests out of a € 150 million fund backed by reputable international institutional investors and the Torqx team itself. For more information please visit: www.torqxcapital.com.
About Grainger
W.W. Grainger, Inc. (NYSE: GWW), with 2019 sales of $11.5 billion, is North America's leading broad line supplier of maintenance, repair and operating products (MRO), with operations also in Europe, Asia and Latin America. For more information please visit: www.grainger.com.
Contact:
Fabory Group, Communications
Bert Holtkamp
T: +31-6-55380594
E: press@fabory.com