Incline Equity Partners Acquires Gateway Fasteners Inc.

Incline confirmed it has acquired Gateway Fasteners Inc. from owner Jay Mangold, who founded the company 32 years ago, about 19 miles east of Pittsburgh. It will be part of Bridgeville-based AFC Dell, bought by Incline in late March, which is led by General Manager Doug Kortyna. Mangold will remain with the company for about a year for a smooth transition.

Gateway, which employs 25 and includes a facility in Goveport, Ohio, near Columbus, is a supplier of bolts and nuts, pipe valves, rivets and screws and other products.Financials were not disclosed. Incline typically works with companies with enterprise values ranging from $30 million to $125 million and invests between $15 million to $30 million. Combined, AFC and Gateway have sales of about $50 million and employ 55.

Incline is actively seeking additional acquisitions in the fastener sector and is in talks with other companies in the Midwest and MidAtlantic regions.