2014 FIN – Hillman Buyout Deal Completed
September 9, 2014 FIN – Hillman Companies’ management team and CCMP Capital Advisors LLC closed a deal to acquire controlling interest in Hillman from Oak Hill Capital Partners. CCMP is investing with Hillman’s management team, led by CEO Jim Waters.
Oak Hill Capital and affiliates will retain a “significant minority interest” in Hillman, according to a Hillman press release.
The deal, announced in May, valued Hillman at $1.475 billion.
Founded in 1964 as a fastener and keys company, Hillman supplies products for commercial and residential products for the hardware and home improvement industry.
Hillman offers 130,000 SKUs in categories including fasteners, key duplication systems, letters, numbers and signs, engraved tags, builder’s hardware, and the recently added nail, deck and drywall category to 26,000 retail customers in the U.S., Canada, Mexico, South America and Australia. Customers include Ace Hardware, Do it Best Corp., Home Depot, Lowe’s, Menards, Petco, PetSmart, RONA, Tractor Supply, True Value and Walmart.
In 2013, Hillman acquired Canadian fastener manufacturer H. Paulin & Co. Ltd. for $103.4 million.
CCMP specializes in middle market buyouts and growth equity investments of $100 million to $500 million in North America and Europe. Investments under management include: Aramark Corporation, Chaparral Energy, Infogroup, Jamieson Laboratories, Jetro Holdings, LHP Hospital Group, Milacron, Newark Energy, Ollie’s Bargain Outlet and Pure Gym.
Hillman’s publicly traded trust preferred securities (nyse-amex:HLM.PR) will remain outstanding, will not be converted or exchanged and will continue to trade on the NYSE-AMEX. ©2014/2015 Fastener Industry News.
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