Motion and Flow Control Products Makes Strategic Acquisition To Expand its Distribution Network into Alaska
DENVER--(BUSINESS WIRE)--Motion and Flow Control Products, Inc. (MFCP), a leading distributor of fluid connectors, fluid power equipment, instrumentation products and seals, has acquired the assets of Jackovich Industrial and Construction Supply Inc. of Fairbanks, Alaska. The acquisition gives MFCP four new locations in Alaska, including two locations in Anchorage, one in Wasilla, and the Fairbanks headquarters location. The company is an industrial Distributor representing leading industrial lines like Parker Hannifin, Stihl chain saws, and other key products that services the Alaskan industries. In addition, Jackovich operates Parker and Stihl retail stores servicing the local needs of its locations.
“This acquisition has strong support from Parker Hannifin and Stihl because MFCP provides its customers with a high level of service and technical expertise. MFCP is authorized to sell six of Parker’s product groups into an area that has been underserved by the Parker network.”
Motion and Flow Control Products serves industrial customers in Colorado, Utah, New Mexico, Wyoming, Oregon, Idaho, Montana, North Dakota, Washington and California. MFCP is a leading distributor and service provider for motion and flow control products supporting OEM and maintenance and repair (MRO). With this new acquisition, it operates 27 locations in 9 western states, and offers customers superior service with direct access to engineered industrial products, repair services, and factory-trained personnel.
John Niemi, President and CEO of Motion and Flow Control Products, says the acquisition gives MFCP a unique opportunity to expand into a key geographic territory. “This acquisition has strong support from Parker Hannifin and Stihl because MFCP provides its customers with a high level of service and technical expertise. MFCP is authorized to sell six of Parker’s product groups into an area that has been underserved by the Parker network.” Niemi says his company will give the Alaska operations access to capital and key management skills to grow the business at an accelerated rate.
Jackovich Tractor was founded in 1969 by Joe and Buz Jackovich; the company began as a distributor of tractors, and its products and services were instrumental in supplying materials needed for the Trans-Alaska Pipeline. Today, Jackovich Industrial and Construction Supply is considered an expert at industrial solutions for the harsh Alaskan environment. The Jackovich team helps customers determine which type of hose, cables, wear parts, grease and other industrial products will work best for them in any type of extreme application that Alaska has to offer. Buz Jackovich tells his customers, “We can make your life and operations a lot easier. Don’t learn the hard way; let us save you time and money and tell you what we know about the Alaskan environment.”
With the sale of the assets, sole owner Buz Jackovich is retiring from the industry. Motion and Flow Control Products will hire the company’s remaining 35 employees at all four locations. Jackovich says his departure from the industry comes after much consideration for the future of his former employees. “I was fortunate to be able to be very selective in who acquired the company I have been building for over 40 years,” says Jackovich, “and I am confident that Motion and Flow Control Products will be a good fit for our employees and customers.”
Investment firm Colville Capital created Motion and Flow Control Products after acquiring McCoy Sales in 2006, Fluid Connector Products in 2011 and American Hose and Fittings in 2012. Mark Mealy, Colville Capital’s Managing Partner, says “We are committed to strategic acquisitions that allow our portfolio companies to develop distinct advantages in their industry. With this acquisition, MFCP will be able to deploy all six Parker product lines it represents, and also expand the Stihl chain saw distribution network with access to new capital.”
About Motion and Flow Control Products, Inc.
Motion and Flow Control Products is a leading distributor of fluid connectors and fluid power equipment, and instrumentation fittings, seals, and valves throughout the Western United States. It also operates as a manufacturer’s representative for HVAC products, and provides engineered solutions for commercial, institutional, and residential HVAC customers. For more information, please visit www.mfcpinc.com.
About Jackovich Industrial and Construction Supply
The company was founded in 1969, and the company has evolved into an expert in fluid connectors and other industrial products. With over 40 years’ experience in the North, Jackovich Industrial and Construction Supply has become an expert at industrial solutions.
About Colville Capital LLC
Colville Capital LLC is a private investment firm focused on acquiring and building private companies. As a long-term investor, Colville was founded to partner with management to build companies of enduring value that are respected in their industry, contribute to their communities and create worthwhile jobs. For more information, please visit www.colvillecapital.com.
Posted: October 3, 2013