[vc_row][vc_column][vc_column_text]Northport, AL (March 2, 2022) – Druid Capital Partners, LLC (“Druid”), alongside Elyton Capital LLC (“Elyton”), is pleased to announce it has completed the acquisition of Franklin Iron Works, Inc. and Alabama Castings, LLC (collectively “Franklin Iron” or the “Company”).
Based in Thorsby, AL, Franklin Iron was founded in 1975 as the Tommie Corporation, and is a leading manufacturer of small, high-quality, ductile iron castings used across many industries including utilities, agriculture, heavy trucking, piping, valves, tooling, and construction. Franklin Iron is recognized across the southeast for the quality of their work and has built a strong reputation in the industry. The Company employs 145 individuals across two facilities in Alabama: one in Thorsby, and another in Aliceville. Led by Allen and Peggy Franklin, the Company has enjoyed great success over the years, and in recent years daughter and son-in-law Kellyn and Travis Vines have assumed management of the business.
Druid and Elyton are partnering with the existing Franklin Iron management team, led by President Travis Vines, to expand the company’s capabilities and capacity, including targeted equipment upgrades, to serve their key growth markets including power, wastewater, infrastructure and agricultural end markets.
Martin Holt, Managing Partner with Druid Capital, said, “We are very pleased to complete the Franklin Iron transaction, and to partner with Travis and Kellyn and their team. Their family and staff of technical and production personnel have built a successful business upon a strong culture of quality, as evidenced by the strong reliance placed on them by the company’s customers. With Travis, we share a similar vison for this business, and we are excited to work together.”
Michael Humber, Elyton founder added, “The combination of the Druid and Elyton teams will bring significant manufacturing experience and highly aligned cultures together to support and enable our owner / management teams. The Company is experiencing significant growth as they look to meet their customers’ needs from organic growth and strategic re-shoring of key products and components from overseas. We’re excited about the opportunities for Franklin Iron and its team.”
This transaction marks the first for Druid and Elyton together, and the fourth platform investment for Druid since its founding in 2015. Together they seek to partner with companies and managers with high integrity, a tangible growth plan, and a defined exit strategy, with a focus on strengthening market position, growing the core business, strategically expanding, and executing bolt-on acquisitions. Each of the principals has a history of investing and operating in the Southeast, and we are proud to call it home.
CB&S Bank provided senior debt financing and JM Brilbeck provided subordinated debt. Porter White & Co. of Birmingham, led by Director Michael Stone, represented Franklin Iron as their exclusive financial advisor.
For more information, please visit fiwinc.com[/vc_column_text][/vc_column][/vc_row]