Independent Bankers Capital Fund, L.P. (www.ibcfund.com) announced today the sale of its investment in Aerospace Distributors, Inc., the parent company of Graco Supply Company (www.gracosupply.com) to a new company formed by Cotton Creek Capital (Dallas, TX), Stony Point Group (Asheville, NC) and members of Graco’s management team.
Headquartered in Ft. Worth, Texas, Graco is an integrated provider of value added distribution, chemical management, and vendor managed inventory services, primarily to the aerospace and aviation industries. Beginning in 1959, Graco has served the commercial, military, and general aviation markets.
During the term of IBCF’s investment, Graco substantially expanded its operations to five locations (Ft. Worth, TX; Wichita, KS; Tulsa, OK; Greensboro, NC; and Ball Ground, GA), significantly broadened its product offerings, and became one of the premier providers of chemical management services for both original equipment manufacturers and maintenance repair and overhaul operators.