AFC Industries Inc., a portfolio company of Incline Equity Partners, announced it has completed an acquisition of the Boulder Co., a value-added distributor of industrial components to original equipment manufacturers. Financial terms of the transaction were not disclosed. Based in Des Moines, Boulder provides supply chain and industrial component distribution services to customers from four locations across Iowa, Nebraska, and South Dakota. AFC, with headquarters in Fairfield, Ohio, is a value-added provider of fastening and other assembly components with offices across the United States. “Boulder and AFC have a shared vision of providing outstanding service to our customers and treating them as partners,” Boulder CEO John Bruntz said in release. “There was a cultural fit from the very beginning, and we believe partnering with AFC will provide lasting benefits to the customers and employees of Boulder.” Des Moines-based investment banking firm BCC Advisers advised Boulder on the transaction.