Druid Capital Partners and Elyton Capital have bought AFS Corporate Member Franklin Iron Works, Inc. (FIW) and Alabama Castings, LLC—collectively known as “Franklin Iron.” 

According to reporting by bizjournals.com, new ownership plans to retain all 145 Franklin Iron employees. A Druid Capital spokesperson told the journal that FIW is hiring for select positions at its locations in Thorsby and Aliceville, Alabama.

FIW former owners Allen and Peggy Franklin are transitioning into retirement. Their daughter and son-in-law, Kellyn Vines and Travis Vines, will partner with Druid and Elyton in management roles. Travis Vines will serve as the foundry’s president. Equipment upgrades are planned to expand into power, wastewater, infrastructure, and agricultural end markets.