The year 2021 ushered in a brand new chapter in Associated Finishing’s family history. John Kapsner, our long-time financial manager and ownership partner decided it was time to sell his interest in AFI and spend more time fishing, enjoying grandchildren, and traveling. We congratulate John on his retirement, wish him well on his endeavors, and thank him for his years of service.
We are excited to announce that John’s retirement created the opportunity for long-time AFI leaders to purchase shares and enjoy the benefits and responsibilities of business ownership. Our leadership team of Jammey Harroun, Mick Rykhus, Matt Miller, and Ryan Kapsner were able to purchase John’s shares along with present owner/president Ted Schreyer. Schreyer comments, ”I’m so glad we were able to keep the company closely held rather than selling to private equity which is so common now days. This team has helped make AFI what it is today and they deserve the opportunity to own it. It’s a credit to the team that we were able to pull this off. We’re still the same company with the same commitment to our customers, now more of us have skin in the game.”
Ted went on to comment, “John Kapsner has done a great service to this company and we’ll miss working with him. He was our banker in the 1980’s and joined us to manage our administrative functions in 1988. We’ve had a great run with him running administration while I ran operations. We bought out Chuck Klammer in 2009 and he’s been a perfect partner. It’s bittersweet that I won’t be tending to AFI on a daily basis with John anymore, but I’m excited to have this team with me as partners. While they’re young and energetic, they bring a wealth of experience and knowledge of the finishing industry. Congratulations John, we hope that you enjoy a long and exciting retirement!“