M&A Deal Summary

Hillman Solutions Acquires MinuteKEY

On June 4, 2018, Hillman Solutions acquired machinery company MinuteKEY from Serent Capital and Comvest Partners

Acquisition Highlights
  • This is Hillman Solutions’ 3rd transaction in the Machinery sector.
  • This is Hillman Solutions’ 5th transaction in the United States.
  • This is Hillman Solutions’ 2nd transaction in Colorado.

M&A Deal Summary

Date 2018-06-04
Target MinuteKEY
Sector Machinery
Buyer(s) Hillman Solutions
Sellers(s) Serent Capital
Comvest Partners
Deal Type Add-on Acquisition

Target

MinuteKEY

Boulder, Colorado, United States
Minute Key Holdings, Inc. is a developer of the self-service key duplication machine. MinuteKEY was founded in 2008 and is based in Boulder, Colorado.

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Buyer(S) 1

Buyer

Hillman Solutions

Forest Park, Ohio, United States

Category Company
Founded 1964
Sector Distribution
Employees3,801
Revenue 1.5B USD (2023)
DESCRIPTION

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.


DEAL STATS #
Overall 6 of 10
Sector (Machinery) 3 of 3
Type (Add-on Acquisition) 6 of 10
State (Colorado) 2 of 2
Country (United States) 5 of 9
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-08 ST Fastening Systems

Tyler, Texas, United States

Hargis Industries LP is a specialty fastener manufacturer and distributor based out of Tyler, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-29 Big Time Products

Rome, Georgia, United States

Big Time Products is a provider of personal protection and work gear products. Company engages in the protective gear market, it’s our mission to raise the standard of safety by providing customers with the highest level of service and produce the most innovative, highest performing and top-quality products on the market.

Buy -

Seller(S) 2

SELLER

Serent Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2008
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Serent Capital is a private equity firm focused on investing in profitable, growing businesses featuring scalable business models and operating in sectors undergoing significant change. Serent looks for companies with $5 to $100 million in growing annual sales where it can commit $20 to $200 million of capital. Target transaction situations include buyouts, recapitalizations, and growth financings. Serent Capital was formed in 2008 and is based in San Francisco, California.


DEAL STATS #
Overall 9 of 27
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 8 of 23
State (Colorado) 1 of 2
Country (United States) 9 of 25
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-23 Modern Campus

Camarillo, California, United States

Modern Campus is a student lifecycle management solution provider driving Omni CMS and Destiny One, which empowers higher education institutions to thrive when radical change is required to successfully respond to lower student enrollments and revenue, rising costs, crushing student debt, and even school closures. Powered by the industry’s leading “student first” modern learner engagement platform, presidents and provosts can create pathways for lifelong learning, while marketing and IT leaders can deliver Amazon-like personalization and instant fulfillment. Modern Campus was founded in 1995 and is based in Camarillo, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-12 KORE Software

New York, New York, United States

KORE Software is a provider of CRM and business management software for the sports and entertainment industries. KORE Software’s products and services help more than 100 professional sports teams and 450 properties, brands, and agencies worldwide harness valuable customer and partner data to fuel business intelligence and optimize performance. From fan engagement and data warehousing to sponsorship and premium offerings, KORE delivers an integrated suite of applications to drive insights, efficiency, and profitability within sports and entertainment. KORE Software was founded in 2002 and is based in New York City.

Buy -
SELLER

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.


DEAL STATS #
Overall 28 of 40
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 16 of 22
State (Colorado) 3 of 3
Country (United States) 28 of 40
Year (2018) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-07 RugsUSA

Cranbury, New York, United States

RugsUSA helps customers turn their houses into homes, offering a stunning array of rug styles, materials, and sizes to suit every design need and budget. With an expansive selection of rugs and home décor products, attractive price points, seamless online shopping experience, and best-in-class fulfillment and customer care, the company is an experienced e-commerce pioneer and rug industry leader, with over eight million rugs sold to nearly two million homes. RugsUSA was founded in 1998 and is based in Cranbury, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-03 Spinrite

Listowel, Ontario, Canada

Spinrite is a manufacturer and marketer of craft yarn products in North America. Spinrite's Bernat, Patons, Lily Sugar's Cream, and Phentex brands, which are sold through mass merchants, craft stores, and independent specialty stores. Spinrite was founded in 1952 and is based in Listowel, Ontario.

Buy -