Hillman Solutions Corp. (NASDAQ: HLMN) shares began the week on the minus side. The Cincinnati-based company, a leading provider of hardware products and merchandising solutions, announced that it has acquired Delaney hardware, a U.S.-based supplier of door hardware and builder’s hardware used in residential, multi-family, and commercial construction.
The acquisition of Delaney expands Hillman’s breadth in the pro distribution channel adding door hardware and expanding builder’s hardware to Hillman’s pro distribution business.
Delaney offers door hardware including entry locksets, deadbolts, door handles, digital and smart locks, and related builder’s hardware for multifamily, new construction and commercial use.
Based near Atlanta, Delaney primarily serves builders, contractors, and building-product distributors across the United States, with concentration in the Southeast.
“The acquisition of Delaney increases our presence in the pro distribution channel and expands categories, both of which are strategic initiatives for Hillman,” commented Hillman CEO Jon Michael Adinolfi. “We look forward to leveraging this distribution platform to further increase our presence in pro distribution and Win the Pro.”
James Daly, Hillman’s recently appointed Senior Vice President, Pro, added: “Delaney is a well-respected regional distributor whose products expand our growing pro distribution capabilities adding both door hardware and builder’s hardware. We are confident that we can leverage Hillman’s core competencies together with Delaney’s pro distribution platform to drive profitable growth in the pro channel.”
HLMN shares dipped 2.5 cents to $8.54.
