PRESS

High Road Capital Partners... among the best of the next generation of alternative asset managers... —Buyouts Magazine, August 16, 2010
  • HIGH ROAD CAPITAL PARTNERS ACQUIRES AKRON HARDWARE

  • NEW YORK, October 20, 2017 – High Road Capital Partners ("www.highroadcap.com") has completed the acquisition of Akron Hardware Consultants, Inc. ("www.akronhardware.com"). Akron Hardware will be combined with Midwest Wholesale Hardware, which High Road acquired in February 2017 and was the sixth platform company for High Road Capital Partners Fund II.

    Founded in 1960, Akron Hardware is a leading wholesale distributor of commercial and institutional door hardware. Akron also services the residential door hardware market through its subsidiary Hardware Suppliers ("www.hardwaresuppliers.com") and the online locksmith supply market through its Preferred Lock Supply division ("www.preferredlock.com"). Akron’s products span from traditional mechanical door hardware to electronic access control security products. Headquartered in Akron, Ohio, Akron Hardware also operates distribution centers in Arizona, Texas, Tennessee and Pennsylvania, and a sales office in North Carolina.

    "We are excited about the opportunity to partner with Akron Hardware and to bring together Akron and Midwest, two longtime leaders in the wholesale distribution of commercial door hardware," said Ben Schnakenberg, Partner, High Road Capital Partners. "Akron Hardware’s extensive inventory, broad distribution network, deep product knowledge, and industry-leading customer service make them a compelling addition for High Road and Midwest. We look forward to working with Akron COO Tom Orihel and with the teams at both Akron and Midwest to create the industry’s preferred wholesale partner and accelerate growth into additional market segments," Schnakenberg added.

    "Akron Hardware has been one of the industry’s most trusted and respected names for over five decades," said Orihel. "We are proud of our history and excited about our future with High Road and Midwest. Our new partnership will provide access to resources and expertise that will take Akron to the next level," Orihel said.

    High Road’s acquisition of Akron Hardware closed on October 6, 2017. Mr. Schnakenberg led the transaction for High Road and was assisted by Scott Rubino, Principal, Nick Martino, Operating Partner, and Tom Cassidy, Associate. Monroe Capital provided financing for the transaction. Concord Capital advised Akron Hardware. High Road was advised by Normandy Advisors and Jones Day. Transaction consideration was not disclosed.

    High Road Capital Partners has completed 44 transactions – 17 platform investments, 21 add-on acquisitions and six exits – since its founding in 2007.

    For further information, please contact Ben Schnakenberg of High Road Capital Partners at (212) 554-3269.

    High Road Capital Partners

    High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and has raised over $470 million of committed capital since inception. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. www.highroadcap.com.

    Akron Hardware

    Akron Hardware is a leading wholesale distributor of commercial and residential door hardware, operating under three distinct wholesale brand names: Akron Hardware (www.akronhardware.com) specializing in commercial and institutional hardware, Hardware Suppliers (www.hardwaresuppliers.com) specializing in residential and retail hardware, and Preferred Lock Supply (www.preferredlock.com) specializing in online locksmith supply. Products include traditional mechanical commercial and institutional door hardware, as well as electronic and electro-mechanical access control security products. Based in Ohio, the company operates distribution centers in Arizona, Texas, Tennessee and Pennsylvania, and a sales office in North Carolina.

    Midwest Wholesale Hardware

    Midwest Wholesale Hardware (MWH) is a leading wholesale distributor of advanced security, door hardware and access control systems providing the most effective, safe and secure solutions for commercial and institutional building markets. From its headquarters in Kansas City and nationwide network of distribution centers, MWH provides customers with the best combination of coverage, technical expertise and service in the security and access control industry and enables MWH to deliver on its promise: What you need, when you need it. www.midwestwholesale.com.