Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - HILLMAN COMPANIES INC | w78198e8vk.htm |
| EX-2.1 - EX-2.1 - HILLMAN COMPANIES INC | w78198exv2w1.htm |
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Oak Hill Capital Partners to Acquire The Hillman Companies for $815 Million
Cincinnati, Ohio — April 21, 2010 — The Hillman Companies, Inc. (“Hillman”) (NYSE-AMEX: HLM_Pr)
announced today that Oak Hill Capital Partners (“Oak Hill Capital”), a leading private equity firm,
has entered into a definitive agreement to acquire Hillman from Code Hennessy & Simmons, Ontario
Teachers’ Pension Plan and certain members of company management. Oak Hill Capital is investing in
partnership with Hillman’s current management team, led by CEO Mick Hillman. The aggregate value of
the transaction is approximately $815 million.
Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading value-added distributor
of over 60,000 SKUs, including fasteners, key duplication systems, engraved tags and related
hardware items to over 20,000 retail customers in the U.S., Canada, Mexico and South America,
including home improvement centers, mass merchants, national and regional hardware stores, pet
supply stores and other retailers. Hillman provides a comprehensive solution to its retail
customers for managing SKU intensive, complex home improvement categories. Hillman also offers its
customers additional services, such as inventory management and in-store merchandising services.
Mick Hillman, the CEO of Hillman, said, “We are extremely pleased to partner with Oak Hill Capital.
We believe Oak Hill Capital will be a value-added partner because they understand our company and
the industry, and they believe in the growth opportunities for our business. Oak Hill Capital has a
tremendous reputation and a long history of making successful investments in partnership with
management.”
Tyler Wolfram, a Partner of Oak Hill Capital, said, “We are enthusiastic about partnering with the
Hillman management team in this transaction. We have tremendous respect for Hillman’s heritage, its
business model and the customer relationships Hillman has enjoyed for over 45 years. We believe
Hillman is uniquely positioned to capitalize on its market leading presence to continue its
impressive record of growth.”
Hillman’s publicly traded trust preferred securities will remain outstanding, will not be converted
or exchanged, and will continue to trade on the NYSE-AMEX.
Completion of the transaction, which is subject to regulatory approvals and customary closing
conditions, is expected in the second quarter of 2010.
Barclays Capital acted as sole financial advisor to Hillman in the transaction, and Morgan Stanley
acted as sole financial advisor to Oak Hill Capital in the transaction. The transaction has fully
committed financing, consisting of debt financing to be provided by certain affiliates of Barclays
Capital, Morgan Stanley and GE Antares and equity financing by Oak Hill Capital Partners III, L.P.
and Hillman management. Kirkland & Ellis LLP is serving as legal counsel to Hillman. Torys LLP is
serving as legal counsel to Ontario Teachers’ Pension Plan. Paul, Weiss, Rifkind, Wharton &
Garrison LLP is serving as legal counsel to Oak Hill Capital.
* * *
About The Hillman Companies, Inc.
Headquartered in Cincinnati, Ohio, The Hillman Group is a leading value-added distributor of over
60,000 SKUs, consisting of fasteners, key duplication systems, engraved tags and related hardware
items to over 20,000 retail customers in the U.S., Canada, Mexico and South America, including home
improvement centers, mass merchants, national and regional hardware stores, pet supply stores and
other retailers. Hillman provides a comprehensive solution to its retail customers for managing SKU
intensive, complex home improvement categories. Hillman also offers its customers value-added
services, such as inventory management and in-store merchandising services. For additional
information on The Hillman Group, please visit www.hillmangroup.com or call (513) 851-4900.
About Oak Hill Capital Partners
Oak Hill Capital Partners is a private equity firm with more than $8.4 billion of committed capital
from leading entrepreneurs, endowments, foundations, corporations, pension funds and global
financial institutions. Robert M. Bass is the lead investor. Over a period of more than 24 years,
the professionals at Oak Hill Capital Partners and its predecessors have invested in more than 60
significant private equity transactions. Oak Hill Capital Partners is one of several Oak Hill
partnerships, each of which has a dedicated and independent management team. These Oak Hill
partnerships comprise over $30 billion of investment capital across multiple asset classes. For
more information about Oak Hill Capital Partners, visit www.oakhillcapital.com.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements,” which relate to future
events or the future performance or financial condition of Hillman or Oak Hill Capital following
the acquisition of Hillman. These statements are not guarantees of future performance, condition or
results and involve a number of risks and uncertainties. Actual results and condition may differ
materially from those in the forward-looking statements as a result of a number of factors,
including those described from time to time in Hillman’s filings with the Securities and Exchange
Commission. Neither Hillman nor Oak Hill Capital undertakes any duty to update any forward-looking
statements made herein.