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.”
Author: Bert Holtkamp (Fabory, Communications)
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