High Road Capital Partners has acquired Midwest Wholesale Hardware. This transaction is the sixth platform acquisition for High Road Capital Partners Fund II.
Midwest Wholesale Hardware is a value-added 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. Midwest Wholesale Hardware was founded in 1987 and is based in Kansas City, MO with additional distribution centers in California, Florida, Pennsylvania, South Carolina and Texas (www.midwestwholesale.com).
“We are excited to partner with Midwest Wholesale Hardware and its CEO Chris Casazza to build upon the company’s position as the premier after-market distributor of commercial door hardware products,” said Ben Schnakenberg, a Partner at High Road Capital Partners. “Midwest Wholesale Hardware has industry-leading national fulfillment capabilities, offers best-in-class customer service, and is a value-added partner to its customers and suppliers. We look forward to supporting Midwest’s efforts to expand its geographic presence and capitalize on growth within the electronic access control market.”
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. High Road has completed 39 transactions – 16 platform investments, 20 add-on acquisitions and five exits – since its founding in 2007. High Road is based in New York (www.highroadcap.com).
“With High Road’s support, we will accelerate our growth by expanding our distribution coverage and investing in innovative technology solutions, particularly in electronic access control systems, the industry’s fastest growing segment. We also expect to pursue acquisitions,” said Mr. Casazza.
High Road’s acquisition of Midwest Wholesale Hardware closed on February 9, 2017. Mr. Schnakenberg led the transaction for High Road and was assisted by Scott Rubino, Principal, and Tom Cassidy, Associate.
Monroe Capital (www.monroecap.com) provided financing for the transaction. TM Capital (www.tmcapital.com) was the financial advisor to Midwest Wholesale Hardware.
© 2017 Private Equity Professional | February 14, 2017