After its purchase of F&M MAFCO earlier this year, equipment supply company AMECO is optimistic about the future of both parties.
BIC Alliance's Jana Stafford recently spoke to Gary Bernandez, CEO at AMECO, and Tim Fries, president and chief growth officer at F&M MAFCO about rebranding and plans for 2023.
Celebrating its 75th anniversary, Bernandez explained that AMECO was previously acquired by One Equity Partners before AMECO acquired F&M MAFCO. The current collective goal is to continue to manage products and services that help customers become more efficient in performance or maintenance. This means combining efforts to equip clientele with scaffolding, equipment, tools, hydration and blast shelters, to name a few products.
Fries spoke about the aspects of the business that F &M MAFCO, which is celebrating 77 years in business, will contribute to the overall operation. The multi-generational, family-owned company specializes in the transactional aspect of business, tapping into its history of handling transfers and mediation for midsize projects for large industrial maintenance companies.
Combined, the two companies, referred to solely as AMECO, have achieved a national scope of service, capable of servicing clients across the U.S. Bernandez stated that a current goal is to expand further across North America and continue to increase AMECO's reach over time.
Speaking to the origins of the merger, the match was perfect for both parties. To executives at AMECO, F&M MAFCO had a great reputation, making it an attractive opportunity to boost its transactional capabilities; it also had the technological capabilities to excel in areas such as ecommerce. Conveniently, F&M MAFCO was looking for partnership, ideally with a company with shared values and culture, strong in execution and operation.
"Acquiring F&M MAFCO enabled AMECO to boost its scope and reach across the country, as well as increase its technological capabilities and general resources to achieve more than what was previously possible," said Bernandez.
According to Fries, a shortcoming that F&M MAFCO had was, while it had relationships with large national contractors, it had difficulty servicing them. This was a problem AMECO could help solve.
On the reaction of the teams at both companies, Bernandez said that members share a collective excitement and are energetic about moving forward together. "We are seeing a formal cultural combination; we're blending cultures and ensuring the environment is ultimately conducive to customer service," Bernandez continued.
The branding was a major point of interest for clients; Bernandez emphasized that the new branding aims to accentuate the complementary cultures and values of the companies, uniting them all under the AMECO name. "AMECO 2.0," as he called it, will bring forth the best aspects of two effective companies, now working as one. This new branding launched with the new year.
With respect to branding, Fries stated, "We want to respect the history and brand of F&M MAFCO, but also unify under one name to solidify the union and make it less confusing to customers." Rather than using both names, he echoed Bernandez in reiterating that F&M MAFCO is now AMECO. "We are very conscious of the optics of the customer. We want to eliminate questions like, 'Who am I dealing with?' We are one company, combined." As such, Fries will continue in this role for a united AMECO.
Finally, turning to the company's long-term plans, Fries made it clear he plans to take the strengths of both entities and aim for big goals. He plans to pursue heavy involvement in user and owner relationships. AMECO will have its first major project as a unified company in Corpus Christi, Texas. AMECO also aims to boost its ESG presence moving into the new year.
For more information, visit ameco.com or call (864) 295-7886.
