M&A Deal Summary

HBC Home & Hardware Products Acquires The Faucet Queens

On January 27, 2014, HBC Home & Hardware Products acquired building materials company The Faucet Queens from Incline Equity Partners and Citizens Capital

Acquisition Highlights
  • This is HBC Home & Hardware Products’ 3rd transaction in the Building Materials sector.
  • This is HBC Home & Hardware Products’ 5th transaction in the United States.
  • This is HBC Home & Hardware Products’ 2nd transaction in New Jersey.

M&A Deal Summary

Date 2014-01-27
Target The Faucet Queens
Sector Building Materials
Buyer(s) HBC Home & Hardware Products
Sellers(s) Incline Equity Partners
Citizens Capital
Deal Type Add-on Acquisition

Target

The Faucet Queens

Cranbury, New Jersey, United States
The Faucet Queens, Inc. is a marketer and distributor of convenience-oriented home hardware products to the food and drug retail channel. Company provides the broadest line of home hardware products in the industry with 14 product lines and over 650 SKUs, including hand tools, kitchen and bath items, twine, padlocks, paint supplies, automotive items and sewing related items. Faucet Queen serves as the outsourced supply chain management partners for many of the top grocery and drug retail chains throughout the United States and Canada.

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Buyer(S) 1

Buyer

HBC Home & Hardware Products

Cranbury, New Jersey, United States

Category Company
Founded 1971
Sector Consumer Products
DESCRIPTION

Howard Berger Co. is a provider of a broad selection of hardware and housewares-related products to a variety of retailers and wholesalers in North America. With revenue of approximately $210 million, the Company is a critical link in the supply chain for both large and small retailers and wholesalers which don't have the infrastructure, scale or expertise to manage a large variety of SKUs on a just in time basis.


DEAL STATS #
Overall 5 of 5
Sector: Building Materials M&A 3 of 3
Type: Add-on Acquisition M&A Deals 4 of 4
State: New Jersey M&A 2 of 2
Country: United States M&A 5 of 5
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-10 WordLock

Santa Clara, California, United States

WordLock designs and markets innovative, word-based personal security products, including padlocks, bike locks, and combination locks. The Company sells its products through a large network of retailers in the home and hardware, general merchandise, sporting goods, travel, and office supply verticals.

Buy -

Seller(S) 2

SELLER

Incline Equity Partners

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Incline Equity Partners is a private equity firm focused on lower middle-market growth companies. The Firm targets companies located in the US and Canada with enterprise values ranging from $25 to $750 million. Prospective transaction types include buyouts, minority recapitalizations, and corporate divestitures. Incline Equity Partners was formerly known as PNC Equity Partners. The Firm is based in Pittsburgh.


DEAL STATS #
Overall 15 of 43
Sector: Building Materials M&A 1 of 2
Type: Add-on Acquisition M&A Deals 7 of 13
State: New Jersey M&A 1 of 4
Country: United States M&A 14 of 42
Year: 2014 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-14 Portec Group International

Cañon City, Colorado, United States

Portec Group International is a designer, manufacturer and marketer of components and sub-systems used by the material handling industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-10 Hartland Controls

Rock Falls, Illinois, United States

Hartland Controls LLC is a provider of electrical system components to the heating, ventilation and air conditioning market, as well as other industrial end markets. Hartland Controls was founded in 2002 and is based in Rock Falls, Illinois.

Buy -
SELLER

Citizens Capital

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 1997
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Citizens Capital is the private equity affiliate of Citizens Financial and provides both mezzanine and equity capital to later-stage privately-held companies in the US. Citizens looks to commit $3 to $15 million in subordinated debt transactions and $1 to $3 million for growth equity needs. Target sectors include manufacturing, consumer products, distribution, and service-based industries. The Firm's investment horizon is five to seven years. Citizens Capital is based in Boston, Massachusetts.


DEAL STATS #
Overall 10 of 11
Sector: Building Materials M&A 1 of 1
Type: Add-on Acquisition M&A Deals 8 of 8
State: New Jersey M&A 1 of 1
Country: United States M&A 10 of 11
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 AeroSat

Amherst, New Hampshire, United States

AeroSat Corp. develops, produces and distributes wireless communications solutions. Created from its patented core technologies, AeroSat's product line of antennae for corporate and commercial aircraft enable the worldwide reception of television in aircraft, two-way satellite communications, and aircraft-to-aircraft communications.

Sell $12M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-04 Courion

Westborough, Massachusetts, United States

Courion Corp. is a provider of identity governance and administration solutions to manage access risk and maintain compliance.

Sell -