9/29/2010
NEWS BRIEFS
Operations VP Leaving Hillman Companies
The Hillman Companies announced the resignation of operations VP Ali Fartaj Sr. effective October 22, 2010. Fartaj, who joined Hillman in his current capacity in January 2008, is leaving “to pursue other interests,” the company stated.
“During his tenure, he has been instrumental in leading the Operations team through numerous operational improvements, including the implementation of LEAN principles, optimization of supply chain network and processes and incorporation of a higher level of discipline,” said CEO Max Hillman. “We certainly appreciate Ali’s significant contributions to Hillman and wish him the very best in his future endeavors.”
In June, fastener distributor Hillman Companies completed its deal to be acquired by equity firm Oak Hill Capital Partners for about $815 million.
Oak Hill, a 24-year-old private equity firm with more than $8.4 billion in its portfolio, invested in partnership with Hillman’s current management team to buy Cincinnati-based Hillman from Code Hennessy & Simmons and certain company management.
Hillman reported 2009 revenue of $482 million.
Founded as a fastener company in 1964, 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. ©2010 GlobalFastenerNews.com
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