U.S. Markets closed
  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     
  • Dow 30

    31,097.26
    +321.83 (+1.05%)
     
  • Nasdaq

    11,127.84
    +99.11 (+0.90%)
     
  • Russell 2000

    1,727.76
    +19.77 (+1.16%)
     
  • Crude Oil

    108.46
    +2.70 (+2.55%)
     
  • Gold

    1,812.90
    +5.60 (+0.31%)
     
  • Silver

    19.85
    -0.50 (-2.44%)
     
  • EUR/USD

    1.0426
    -0.0057 (-0.5422%)
     
  • 10-Yr Bond

    2.8890
    -0.0830 (-2.79%)
     
  • Vix

    26.70
    -2.01 (-7.00%)
     
  • GBP/USD

    1.2103
    -0.0072 (-0.5930%)
     
  • USD/JPY

    135.1750
    -0.5530 (-0.4074%)
     
  • BTC-USD

    19,314.84
    -446.65 (-2.26%)
     
  • CMC Crypto 200

    420.84
    +0.70 (+0.17%)
     
  • FTSE 100

    7,168.65
    -0.63 (-0.01%)
     
  • Nikkei 225

    25,935.62
    -457.42 (-1.73%)
     

GHK Capital Partners LP Completes Acquisition of Auveco

·2 min read
Image
Image

GREENWICH, Conn., May 09, 2022 (GLOBE NEWSWIRE) -- GHK Capital Partners LP ("GHK"), a leading middle-market private equity firm, announced today that it completed the acquisition of Auveco (the "Company"), based in Cold Spring, KY. Founded in 1916, Auveco is a leading master distributor of automotive fasteners to the body hardware aftermarket as well as general industrial fasteners used in maintenance, repair, and operations applications in North America. Terms of the acquisition were not disclosed.

GHK's acquisition of Auveco will enable the Company to pursue future organic and inorganic growth initiatives as it continues to expand and evolve its product portfolio, supplier base, and customer-focused sales strategy. All key senior executives will remain with the Company.

Gil Klemann, Managing Partner of GHK, said, "We are eager to begin our partnership with Auveco, which over many decades has established a clear leadership position and a highly attractive, differentiated model in the auto aftermarket and general industrial fasteners space. As GHK's fifth platform investment, Auveco represents a highly attractive investment opportunity in the specialty distribution space led by an exceptional management team who is well-positioned to drive outsized organic growth."

"We are very excited to be partnering with GHK, who shares our vision for the future growth of the Company, as well as our deep commitment to our customers, employees and supplier partners," said Auveco CEO Jeff Gilkinson. "The combination of our comprehensive product portfolio, unparalleled customer service and industry insight in partnership with GHK's strategic and financial expertise will further strengthen our ability to deliver for all of our stakeholders. We are immensely proud of the Company's achievements over the past century, and we believe this partnership positions us well for the future."

Auveco was advised by Lincoln International and Fifth Third and represented by Koley Jessen P.C., L.L.O. GHK was advised by Piper Sandler & Co. and represented by Davis Polk & Wardwell LLP.

About Auveco

Founded in 1916 and Headquartered in Cold Spring, KY, Auveco is a leading distributor of fasteners to the automotive body hardware aftermarket and general industrial maintenance, repair and operations space. The Company sells to thousands of wholesale distribution customers who subsequently service hundreds of thousands of collision centers, repair shops, and dealerships located throughout North America. Over its more than 100-year history, Auveco has established a strong reputation for supplying a superior selection of quality products through excellent logistics and distribution capabilities. To learn more about Auveco, please visit www.auveco.com.

About GHK Capital Partners

GHK is a leading middle-market private equity firm focused on making control investments in industrial companies across North America. GHK targets established businesses with strong free cash flow margins and multiple avenues for organic growth and operational improvement.

Contact: info@ghk.com for more information or visit https://www.ghk.com.

This content was issued through the press release distribution service at Newswire.com.