North Carolina Sheet Metal Manufacturer Sold to Strategic Acquirer
After nearly three decades of leadership, founder Richie Richmond has sold Forma-Fab Metals, a leading sheet metal engineering and fabrication company, to a strategic acquirer with plans to build upon the company’s legacy of innovation and service.
About the Company
Founded in 1996, Forma-Fab Metals quickly grew into one of the Triangle’s most respected sheet metal manufacturers. The company specializes in the engineering, design, and fabrication of precision sheet metal products. Products manufactured included enclosures, cabinets, housings, panels, brackets, racks, bus bars, and covers, made from a wide variety of materials such as mild steel, stainless steel, aluminum, brass, copper, galvanized metals, and plastics.
Forma-Fab’s in-house capabilities set it apart in the Southeast U.S. market. The company operates with a comprehensive suite of services, including laser cutting, press brake forming, automated punching, MIG/TIG/arc welding, powder coating, plating, silk screening, polishing, and turnkey assembly and shipping solutions. Serving industries such as medical, energy, food service, signage, electronics, recycling, and institutional security, Forma-Fab became known for its ability to deliver complex assemblies, rapid turnaround times, and competitive pricing. Its customer partnerships spans decades, built on quality, reliability, and collaboration.
After 28 years at the helm, Richie decided it was time to step back from day-to-day leadership and spend more time with family, traveling, and enjoying the outdoors. His goal was to find a buyer who would protect his employees, customers, and the culture he worked so hard to build.
How MidStreet Helped
When Richie began exploring a sale, he spoke with several advisors. What stood out about MidStreet was its offer maximization process, deal experience, and local, hands-on presence.
Richie appreciated that MidStreet could provide recent comparable sales in his sector, introduce him to tax-minded attorneys and advisors, and run an auction process to result in the highest quality buyer fit. He also valued MidStreet’s reputation for accessibility and transparency.
To confidentially market the business, MidStreet produced a comprehensive Confidential Information Memorandum, marketing video, and targeted outreach campaign. The process generated 44 interested buyers and 6 formal offers, ultimately allowing Richie to choose the acquirer best aligned with his vision for the company’s future.
The Perfect Partner
The selected buyer was a strategic acquirer with complementary capabilities and a long-term growth strategy. They were drawn to Forma-Fab’s reputation for complex assemblies, advanced in-house processes, and highly skilled workforce. The acquisition represents both a continuation of Richie’s legacy and an opportunity to expand the company’s reach in the Southeast.
Richie Richmond on Choosing MidStreet
"When I first started thinking about selling, I wasn’t sure whether I could do it on my own or if I really needed an advisor. After speaking with a few firms, MidStreet stood out right away. They understood my industry, they introduced me to tax advisors who made a huge difference, and they made me feel like more than just another client.
I liked that they were local and that we could meet face-to-face. Their process brought in multiple serious offers, which gave me the confidence that I was making the right decision. Looking back, I can say without a doubt that choosing MidStreet was the best move I could have made.”- Richie Richmond, Founder of Forma-Fab Metals
A Legacy Secured
With the sale complete, Richie is excited to spend more time hunting, traveling, and enjoying the outdoors, knowing that Forma-Fab Metals is positioned for continued growth under new ownership.
