Craftmaster Hardware, a security hardware distributor and a portfolio company of Capital Resource Partners, has acquired Taylor Security and Lock. Capital Resource Partners acquired Craftmaster Hardware in May 2015.
Taylor Security and Lock is a distributor of commercial and residential door hardware offering traditional mechanical door hardware as well as electronic access and high security locking products to private, institutional and government locksmiths, facilities management professionals, maintenance engineers and access control companies. The company was founded in 1972 by President Joel Taylor and is headquartered in Gaithersburg, MD (www.taylorsecurity.com).
“I am excited about the opportunity that combining Craftmaster and Taylor brings to our associates and our customers,” said Mr. Taylor. “Two great organizations with deep product knowledge and similar reputations for customer care will create a powerful presence in hardware distribution.”
Craftmaster Hardware is a wholesale distributor of security hardware, detention, commercial door locks, and locksmith supplies to hospitals; universities; school districts; federal, state and local governments; as well as prisons and jails. The company, led by CEO Tim Grogan, was founded in 1951 and is headquartered in Northvale, NJ (www.craftmasterhardware.com).
Capital Resource Partners invests in lower middle market companies that have positive cash flow and revenues of $5 million to $100 million. Sectors of interest include business services; consumer products and services; healthcare services; proprietary industrial products and services; and software and information services. The firm is headquartered near Boston in Wellesley, MA (www.crp.com).
© 2019 Private Equity Professional | January 14, 2019