Banner Solutions, a portfolio company of High Road Capital Partners, has acquired Specialized Builder’s Hardware. This is the fifth add-on completed by Banner under High Road ownership.
Specialized Builder’s Hardware (SBH) is a wholesale distributor of commercial door locks, hardware, and access control systems. The company is led by President Terry Olson and is headquartered in Anaheim, CA (www.sbhsolutions.com).
The buy of SBH follows Banner’s buys of Oregon-based Berg Wholesale (June 2019); Iowa-based Strauss Lock Distributors (December 2017); and Ohio-based Akron Hardware and its sister company Hardware Suppliers (October 2017).
Banner Solutions, formerly Midwest Wholesale Hardware (the company rebranded in March 2019), was acquired by High Road’s second fund in February 2017. Banner is a wholesale distributor of commercial and institutional door hardware, electronic access control and security products. The company’s inventory includes all major brands and hard-to-find components for maintenance and repair applications within the commercial and institutional door hardware market. Banner was founded in 1987 and is based in Kansas City with additional distribution centers in California, Florida, Pennsylvania, South Carolina and Texas.
“SBH’s strength in the Southern California market broadens Banner’s geographic presence, adding customers in the education, government, healthcare, hospitality, and multi-family residential industries,” said Scott Rubino, a principal at High Road. “In addition, SBH brings a highly technical sales force which will integrate well with Banner’s industry-leading customer service.”
Partner Ben Schnakenberg and Mr. Rubino led the transaction for High Road and were assisted by Operating Partner Nicholas Martino; Senior Associate Tom Cassidy; and Associate Anthony Tripodoro.
High Road invests in manufacturing, service, or value-added distribution businesses with revenues of $10 million to $100 million and EBITDAs of $3 million to $10 million. The firm has completed 53 transactions – 20 platform investments, 29 add-on acquisitions and 7 exits – since its founding in 2007. High Road is based in New York.
© 2019 Private Equity Professional | September 6, 2019