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September 20, 2012, Chicago, IL – Akoya Capital Partners, LLC partners with Gemini Investors, TMW Enterprises, and current management to acquire FabEnCo, Inc. The terms of the deal were not disclosed.
Founded in 1965 and headquartered in Houston, FabEnCo is engaged in the manufacturing of self-closing safety gates for ladder, stair, and platform openings. The company has differentiated itself through design, quality, and exceptional service, and has built a leading industry position, controlling a sizable share of the U.S. safety gate market.
The company has been led by its principal shareholders, David LaCook and Donald Henderson. Both individuals will continue as investors and CEO and Executive Vice President of the company, respectively. Philippe Suhas, Akoya Operating Partner and its Workplace Safety Sector leader, will become Executive Chairman of FabEnCo.
For Akoya, FabEnCo represents its first platform in Workplace Safety. "We are delighted and honored to be partnering with Gemini, TMW, and David and Don on this opportunity", said Philippe Suhas. "FabEnCo is a gem. The company invented the safety gate category and has become a leader in the collective protection space. We believe the company is an attractive platform poised to accelerate its growth curve through organic growth initiatives and strategic add-on acquisitions. There are many companies manufacturing products in adjacencies and we are actively looking for suitable add-ons."
The FabEnCo acquisition is consistent with Akoya's investment strategy of combining world-class executives, well positioned companies, and well-developed value creation strategies to create significant value for management and investors. "What differentiates Akoya is our deep domain expertise and our sector-led approach that delivers proprietary deal flow and exceptional leadership teams in our four areas of focus; Specialty Chemicals, Consumer Foods, Workplace Safety, and Environmental Services", said Max DeZara, Managing Partner of Akoya. In executing this transaction, Akoya partnered with Wellesley, Massachusetts-based Gemini Investors, and Troy, Michigan-based TMW Enterprises.
About Akoya Capital LLC
Akoya is a private investment firm that sponsors transactions in lower and middle market businesses with attractive growth prospects. At the core of our investment strategy is partnership with proven and talented operating executives across various industries as well as executing very specific strategies in Consumer Foods, Specialty Chemicals, Workplace Safety, and Environmental Services.
The principals of Akoya have collectively been involved in over 100 acquisitions, divestitures, mergers, direct investments, capital raisings, and restructurings across a broad range of industries, in addition to having hands-on operating, human capital, and organizational development expertise.