XLCS Partners advises AFCO Industries on sale to Fulton Asset Management

NASHVILLE, Tenn., Aug. 12, 2025 /PRNewswire/ -- XLCS Partners, Inc., an investment banking firm providing M&A advisory services, is pleased to announce it served as the exclusive advisor to AFCO Industries, Inc. (AFCO) on its sale to Fulton Asset Management (FAM).

Founded in 1946, AFCO is a premier, vertically integrated building products manufacturer of Made in the USA stock and made-to-order columns and railings for decks, walkways, entrances, and porches, as well as millwork door products for residential and multi-family properties. The company specializes in aluminum, fiberglass, vinyl, and composite products, and is one of the few manufacturers in the country with two seven-inch aluminum extrusion presses (1,675 and 1,800 tons). AFCO also operates a full-service contract manufacturing and CNC metal fabrication business that supports both its branded building products and a growing base of OEM customers. The company is headquartered in Alexandria, Louisiana.

FAM is a diversified family office with a long-term investment philosophy, backing middle-market businesses across the industrial, manufacturing, and business services sectors. FAM provides patient capital and operational support to build enduring value in its portfolio companies.

As part of the transaction, the AFCO leadership team will remain in place and continue to lead the company's day-to-day operations.

"After careful consideration, we chose XLCS over a Big Four firm for their hands-on leadership and proven strategy to maximize value for our employee-owners," shared Don Fowler, AFCO President and CEO. "Unwinding an ESOP can be complex, but XLCS was with us every step of the way. Their results-driven approach generated significant interest and ultimately delivered the best possible buyer for our company. I'm genuinely grateful we chose them to guide us through this process. If I ever had to sell another company, XLCS would, without hesitation, be my first call."

XLCS acted as the exclusive M&A advisor to AFCO, and the transaction was led by Anthony Contaldo, Partner; Eric Schoendorf, Vice President; and David Silva, Senior Associate. The transaction was completed on July 31, 2025.

About XLCS Partners, Inc.
XLCS Partners is an investment banking firm providing M&A advisory services to select clients globally. www.xlcspartners.com

Media Contact: 
Kendra Span 
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SOURCE XLCS Partners, Inc.