Distribution; Industrials; A&D
Irvine, California, December 17, 2021 – Keystone Capital Markets is pleased to announce that Askew Industrial Corporation, Inc. has been acquired by AFC Industries. Keystone served as the exclusive financial advisor to Askew Industrial Corporation.
Founded in 1957, Askew is a global leader in supply chain logistics and distribution of industrial, MIL-SPEC and engineered fasteners, components and MRO products.
AFC CEO Kevin Godin said, “We are very excited to have Askew join the AFC family. They have a long history of providing excellent service to their customers, expand our reach in markets we found attractive, and they will help us accelerate our expansion strategy in the western United States.”
Former Askew owner Turan Kahraman added, “We had many good options when it came to potential partners. We were confident that AFC’s culture was closely aligned with that of Askew. This combined with its financial resources, AFC provides an environment of personal and professional growth for our experienced and hardworking team members. We look forward to a long and successful future together.”
Randy Krauthamer, Managing Director of Keystone Capital Markets said, “We are extremely pleased with the outcome of this transaction. It was a highly competitive process that resulted in a significant transaction for our client.”