Hillman Solutions agrees to buy Kanebridge for $315 million
HLMN•Hillman to acquire Kanebridge for $315 million
- Hillman Solutions agreed to buy industrial fastener master distributor Kanebridge for $315 million, subject to customary adjustments.
- The deal adds an industrial distribution platform in the U.S., expanding Hillman’s industrial total addressable market to $3 billion.
- Kanebridge supplies more than 44,000 fastener SKUs to distributors across the U.S. and Canada from warehouses in Illinois and California.
- Hillman expects margin and earnings accretion, citing sourcing and distribution cost synergies, cross-selling opportunities, and tax benefits.
- Funding is planned from balance-sheet cash, borrowings under an asset-based revolving credit facility, and an add-on to a First Lien Term Loan.
