1/10/2011
HEADLINES
ACQUISITION: Hillman Cos. Acquires Specialty Fastener Distributor Servalite
Fastener distributor Hillman Companies Inc. acquired Servalite, an East Moline, Ill.-based distributor of specialty fasteners and hardware, for an undisclosed sum, the Business Courier reports.
East Moline, IL-based Servalite has two U.S. distribution centers, including a 115,000 sq ft warehouse/office complex, with more than 160 sales reps and about 200 employees, according to the company’s website.
Founders Tom and Jennifer Rower will reportedly remain with the company, which was started in 1979 and had more than $20 million in 2009 revenue. Web: servalite.com
Founded as a fastener company in 1964, Cincinnati, OH-based Hillman is a value-added distributor of over 60,000 SKUs, including fasteners, key duplication systems, engraved tags and related hardware items to over 21,000 retail customers in the U.S., Canada, Mexico and South America. Hillman’s customer portfolio includes Ace Hardware, True Value, Lowe’s, Home Depot, Tractor Supply, Walmart, Menards and Do it Best Corp. ©2011 GlobalFastenerNews.com
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