Argosy Investment Partners Acquires Carfaro, Inc.
On June 26, 2015, Argosy made a follow-on investment in Fairway Building Products to support Fairway’s acquisition of Carfaro, Inc. Carfaro is a turnkey aluminum railing manufacturer for residential and commercial buildings. Carfaro provides full service solutions from drafting, estimating and engineering to manufacturing and installation. Carfaro operates out of a single manufacturing facility in Trenton, New Jersey.
Joe Carfaro, Carfaro’s founder and President, has made great strides in building in-house automated manufacturing and production capabilities which differentiate it from its competition. These capabilities have allowed Carfaro to build relationships with local and regional contractors for quality, on-time deliveries which have made it an entrenched supplier. The Carfaro acquisition is an initial step toward the objective of creating a Fairway platform that provides a complete line of railing solutions.
Citizens Bank and Graycliff Partners provided senior and subordinated financing, respectively, to support the transaction.