THE HILLMAN GROUP, A LEADING VALUE-ADDED SPECIALTY DISTRIBUTOR OF HARDWARE AND HOME IMPROVEMENT PRODUCTS, TO BECOME PUBLIC COMPANY
Hillman and Landcadia III (Nasdaq: LCY) to Merge
CCMP Capital to Remain Largest Shareholder
Institutional Investors Led By Wells Capital Management, Columbia Threadneedle Investments’ Small Cap Growth Strategy Commit to Invest $375 Million at Closing
Transaction Values Hillman at Enterprise Value of Approximately $2.64 Billion
Hillman Chairman and CEO Doug Cahill to Continue Leading Company
Investor Call Scheduled for Today at 9:00 AM EST
CINCINNATI and HOUSTON, Jan. 25, 2021 (GLOBE NEWSWIRE) -- HMAN Group Holdings Inc., the parent company of The Hillman Group, Inc. (“Hillman” or the “Company”), a leader in the hardware and home improvement industry and Landcadia Holdings III, Inc. (Nasdaq: LCY) (“Landcadia III”), a publicly-traded special purpose acquisition company, announced today that they have entered into a definitive merger agreement that will result in Hillman becoming a publicly listed company. Upon the closing of the transaction, the combined company will be named Hillman Solutions Corp. and remain listed on Nasdaq under the new ticker symbol “HLMN.”
Landcadia III’s management team is led by Tilman J. Fertitta, Chief Executive Officer and Co-Chairman of Landcadia III’s Board of Directors, and Rich Handler, President and Co-Chairman. Hillman is controlled by private equity firm CCMP Capital Advisors, LP ("CCMP"), which has a long history of creating value for private and public shareholders. CCMP and its affiliates acquired a majority interest in Hillman in 2014 and will remain the Company’s largest shareholder upon closing. Hillman’s Chairman, Chief Executive Officer and President Doug Cahill will continue to lead the combined company in these roles along with the current management team, and will be a significant equity participant in the Company.
Founded in 1964, Hillman is a leading distributor of hardware and home improvement products, personal protective equipment and robotic kiosk technologies. Today the Company provides a comprehensive solution to its retail customers for managing SKU-intensive, complex home improvement categories, distributing over 110,000 SKUs in categories including fasteners and hardware; work gear, gloves and other PPE; and robotics and digital solutions such as key and fob duplication. Hillman distributes to over 40,000 locations in the U.S., Canada and Mexico, and serves home improvement centers, mass merchants, national and regional hardware stores and other retailers. Leading customers include winning omni-channel retailers such as Ace Hardware, Home Depot, Lowe's, Tractor Supply, True Value and Walmart, among others. Hillman’s sales have grown in 55 of its 56 year history and are estimated to reach $1.4 billion for the fiscal year ended on December 26, 2020.