Belgium-based Facil Acquires Flexalloy
FEATURE
Belgium-based FACIL announced it has acquired Flexalloy from Acument Global Technologies. Subscribers can read the about Facil and the acquisition by clicking HERE.
The Flexalloy story dates back to its founding in 1967 by James Rayburn. He died of leukemia in 1981 and was succeeded by his 26-year-old son, Andy Rayburn.
The Rayburn family sold Flexalloy to Textron Inc. in April 1999 for $185 million. After a 16-month transition of heading Flexalloy under Textron, Andy Rayburn invested in minor league baseball teams.
In August 2006, Platinum Equity acquired Textron Fastening Systems and three months later changed the name to Acument Global Technologies, reflecting the new beginning and strategic direction as a stand-alone company, the company told FIN.
For the story of Flexalloy, click on Fastener History section of GlobalFastenerNews.com and scroll down to 2000 FIN – Hirsch Succeeds Sights as Textron Fastening President; Rayburn Leaves Fasteners for Baseball or click HERE.
FIN subscribers may click here to read this week’s article on FACIL acquiring Flexalloy.
©2011 GlobalFastenerNews.com
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