M&A Deal Summary

HarbourVest Partners, Oak Hill Capital and AEA Investors Acquire Hillman Solutions

On May 28, 2010, private equity firms HarbourVest Partners, Oak Hill Capital and AEA Investors acquired distribution company Hillman Solutions for 815M USD

Acquisition Highlights
  • This is HarbourVest Partners’ 1st, Oak Hill Capital’s 2nd and AEA Investors’ 8th transaction in the Distribution sector.
  • This is HarbourVest Partners’ 43rd, Oak Hill Capital’s 6th and AEA Investors’ largest (disclosed) transaction.
  • This is HarbourVest Partners’ 50th, Oak Hill Capital’s 32nd and AEA Investors’ 32nd transaction in the United States.
  • This is HarbourVest Partners’ 1st, Oak Hill Capital’s 4th and AEA Investors’ 2nd transaction in Ohio.
Investment Fate
  • Hillman Solutions was sold to a consortium of financial buyers in 2010 for 815M USD.
  • Hillman Solutions was sold to a consortium of financial buyers in 2014 for 1.5B USD.
  • Hillman Solutions was sold to a financial buyer in 2021.

M&A Deal Summary

Date 2010-05-28
Target Hillman Solutions
Sector Distribution
Buyer(s) HarbourVest Partners
Oak Hill Capital
AEA Investors
Deal Type Secondary Buyout
Deal Value 815M USD
Advisor(s) Barclays Investment Bank (Financial)
Kirkland & Ellis (Legal)

Target

Hillman Solutions

Forest Park, Ohio, United States
Hillman Solutions is a distributor of fasteners, key blanks, signage and other small hardware components and a leading manufacturer of key making equipment. The company operates in multiple channels of the retail marketplace including national and regional home centers, hardware stores and mass merchants. Hillman Solutions is based in Forest Park, Ohio.

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Buyer(S) 3

Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 83 of 223
Sector (Distribution) 1 of 3
Type (Secondary Buyout) 17 of 55
State (Ohio) 1 of 4
Country (United States) 50 of 134
Year (2010) 5 of 12
Size (of disclosed) 43 of 68
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-01 Carlile Bancshares

Forth Worth, Texas, United States

Carlile Bancshares, Inc. is a provider of buying small to regional banks that are looking for shareholder alternatives. Carlile Bancshares, Inc. was established in 2009 and is headquartered in Forth Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-20 Gala Coral Group

Essex, United Kingdom

Gala Coral Group Ltd. is a fast growing UK retail gaming company, Gala operates successfully in the UK bingo casino, licensed betting offices and multimedia gaming markets. It is by some margin the largest bingo operator in the UK.

Sell -
Buyer

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


DEAL STATS #
Overall 38 of 76
Sector (Distribution) 2 of 2
Type (Secondary Buyout) 8 of 25
State (Ohio) 4 of 5
Country (United States) 32 of 69
Year (2010) 4 of 6
Size (of disclosed) 6 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-25 ViaWest

Greenwood Village, Colorado, United States

ViaWest, Inc. is a provider of data center space, power and managed services to enterprise and SME customers in 16 data centers. Provides first-class colocation and managed services exemplified by strong revenue and profitability growth. ViaWest, Inc. was founded in 1999 and is based in Greenwood Village, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-08 Security Networks

West Palm Beach, Florida, United States

Security Networks is a provider of home security solutions in the U.S. specializing in the sale, installation, maintenance, and monitoring of electronic security alarm systems.

Buy -
Buyer

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.


DEAL STATS #
Overall 37 of 118
Sector (Distribution) 8 of 19
Type (Secondary Buyout) 10 of 54
State (Ohio) 2 of 3
Country (United States) 32 of 103
Year (2010) 3 of 7
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-30 Cogent Healthcare

Brentwood, Tennessee, United States

Cogent Healthcare, Inc. is a provider of private hospitalist and intensivist services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-11 Shoes for Crews

West Palm Beach, Florida, United States

Shoes for Crews LLC is a unique rubber compound to produce slip-resistant footwear, significantly reducing slip-and-fall accidents.

Buy -