Waterloo Industries Inc., a leading manufacturer of tool and garage storage products for the retail and industrial trade, has been purchased by AFI Partners, a New York-based private equity firm with a background of helping small and mid-size industrial companies realize their potential. Waterloo had previously been owned by Fortune Brands, a Fortune 500 company based in Deerfield, Illinois.
AFI purchased Waterloo as a platform for growth. The plant employs more than 350 full-time employees and has been in Sedalia since 1978. The company will use the Sedalia plant as its operating headquarters.
According to company officials, “Combining Waterloo’s core business competencies with the new ownership’s experience in the manufacturing space creates a very powerful formula for success. Waterloo will continue to deliver exceptional value to our customers through an experienced workforce and world class manufacturing facilities in Sedalia.
“The Sedalia plant is the leading U.S.-based manufacturer of tool and garage storage products sold to retail customers, and is currently launching a new, high quality line of CAT-branded tool and garage storage products made in Sedalia.”
Release courtesy of Waterloo Industries Inc.