Hillman Acquires Intex DIY, Expands Position in Cleaning Products Category
Hillman Solutions Corp. (Nasdaq: HLMN) has acquired Intex DIY, Inc., a leading supplier of cleaning textiles. This acquisition expands Hillman's Protective Solutions business, which includes popular work glove brands. Intex, founded in 2005, has developed patented products that have reinvented the cleaning rag category. Intex's 2024 annual revenue is expected to be approximately $55 million.
The acquisition strengthens Hillman's position in the cleaning products category. Intex has a 98% fill rate with its top ten customers, whom it has served for an average of nearly 15 years. This marks Hillman's second acquisition in 2024, following the purchase of Koch Industries in January. Financial terms of the transaction were not disclosed.
Hillman Solutions Corp. (Nasdaq: HLMN) ha acquisito Intex DIY, Inc., un fornitore leader di tessuti per la pulizia. Questa acquisizione amplia il business delle Soluzioni Protettive di Hillman, che include marchi di guanti da lavoro molto popolari. Intex, fondata nel 2005, ha sviluppato prodotti brevettati che hanno reinventato la categoria dei panni per la pulizia. Si prevede che il fatturato annuale di Intex nel 2024 sarà di circa 55 milioni di dollari.
L'acquisizione rafforza la posizione di Hillman nella categoria dei prodotti per la pulizia. Intex ha un tasso di riempimento del 98% con i suoi dieci principali clienti, che ha servito per una media di quasi 15 anni. Questo segna la seconda acquisizione di Hillman nel 2024, dopo l'acquisto di Koch Industries a gennaio. I termini finanziari della transazione non sono stati divulgati.
Hillman Solutions Corp. (Nasdaq: HLMN) ha adquirido Intex DIY, Inc., un proveedor líder de textiles de limpieza. Esta adquisición expande el negocio de Soluciones Protectivas de Hillman, que incluye marcas populares de guantes de trabajo. Intex, fundada en 2005, ha desarrollado productos patentados que han reinventado la categoría de trapos de limpieza. Se espera que los ingresos anuales de Intex en 2024 sean de aproximadamente 55 millones de dólares.
La adquisición fortalece la posición de Hillman en la categoría de productos de limpieza. Intex tiene una tasa de llenado del 98% con sus diez principales clientes, a quienes ha servido durante un promedio de casi 15 años. Esta es la segunda adquisición de Hillman en 2024, después de la compra de Koch Industries en enero. Los términos financieros de la transacción no fueron divulgados.
힐먼 솔루션 Corp. (Nasdaq: HLMN)은 청소 섬유의 주요 공급업체인 인텍스 DIY, Inc.를 인수했습니다. 이 인수는 힐먼의 보호 솔루션 비즈니스를 확장하며, 인기 있는 작업 장갑 브랜드를 포함합니다. 2005년에 설립된 인텍스는 청소 걸레 범주를 혁신한 특허 제품을 개발했습니다. 인텍스의 2024년 연간 수익은 약 5,500만 달러에 이를 것으로 예상됩니다.
이 인수는 청소 제품 범주에서 힐먼의 입지를 강화합니다. 인텍스는 상위 10개 고객과의 거래에서 98%의 채우기 비율을 유지하며, 이 고객들과 평균 15년 가까이 거래해왔습니다. 이것은 2024년 힐먼의 두 번째 인수로, 1월에 Koch Industries를 인수한 이후입니다. 거래의 재무 조건은 공개되지 않았습니다.
Hillman Solutions Corp. (Nasdaq: HLMN) a acquis Intex DIY, Inc., un fournisseur majeur de textiles de nettoyage. Cette acquisition élargit l'activité de Solutions Protectrices de Hillman, qui comprend des marques populaires de gants de travail. Intex, fondée en 2005, a développé des produits brevetés qui ont réinventé la catégorie des chiffons de nettoyage. Le chiffre d'affaires annuel d'Intex pour 2024 devrait être d'environ 55 millions de dollars.
Cette acquisition renforce la position de Hillman dans la catégorie des produits de nettoyage. Intex a un taux de remplissage de 98 % avec ses dix principaux clients, qu'elle sert depuis une moyenne de près de 15 ans. Cela marque la deuxième acquisition de Hillman en 2024, après l'achat de Koch Industries en janvier. Les termes financiers de la transaction n'ont pas été divulgués.
Hillman Solutions Corp. (Nasdaq: HLMN) hat Intex DIY, Inc. übernommen, einen führenden Anbieter von Reinigungstextilien. Diese Übernahme erweitert das Protective Solutions-Geschäft von Hillman, das beliebte Arbeits-Handschuhmarken umfasst. Intex, gegründet im Jahr 2005, hat patentierte Produkte entwickelt, die die Kategorie der Reinigungstücher neu erfunden haben. Der Jahresumsatz von Intex für 2024 wird auf etwa 55 Millionen US-Dollar geschätzt.
Die Übernahme stärkt Hillmans Position im Bereich der Reinigungsprodukte. Intex hat eine Auslastungsrate von 98 % bei seinen zehn größten Kunden, die seit durchschnittlich fast 15 Jahren betreut werden. Dies markiert die zweite Übernahme von Hillman im Jahr 2024, nach dem Kauf von Koch Industries im Januar. Die finanziellen Bedingungen der Transaktion wurden nicht bekannt gegeben.
- Acquisition of Intex DIY expands Hillman's presence in the cleaning products category
- Intex's expected 2024 annual revenue of approximately $55 million
- Intex's high customer retention with 98% fill rate for top ten customers
- Acquisition aligns with Hillman's long-term growth strategy of adjacent aisle, bolt-on acquisitions
- Financial terms of the acquisition were not disclosed, limiting assessment of the deal's value
Insights
Hillman's acquisition of Intex DIY is a strategic move that expands its product portfolio and market presence. With Intex's projected
The acquisition strengthens Hillman's position in the cleaning products category, complementing its existing glove offerings. This diversification could help mitigate risks associated with reliance on a single product line. Moreover, Intex's strong customer relationships, evidenced by its
While financial terms weren't disclosed, investors should monitor future earnings reports for integration costs and synergy realizations. This acquisition, along with the recent Koch Industries purchase, signals Hillman's aggressive growth strategy, which could drive long-term value but may also increase short-term financial risks.
Hillman's acquisition of Intex DIY significantly bolsters its market position in the cleaning products sector. This move is timely, given the increased focus on cleanliness and hygiene post-pandemic. By integrating Intex's innovative, patented products into its portfolio, Hillman is poised to capture a larger share of this growing market.
The acquisition also demonstrates Hillman's commitment to diversification and expansion. By adding Intex's cleaning textiles to its existing protective solutions line, Hillman is creating a more comprehensive offering for retailers and consumers alike. This could lead to increased shelf space and stronger relationships with key retail partners.
Furthermore, the upcoming launch of Wrangler® brand work gloves in 2025 shows Hillman's strategy of leveraging well-known brands to drive growth. This multi-pronged approach of acquisitions and brand partnerships positions Hillman well for sustained market expansion and potential revenue growth in the coming years.
CINCINNATI, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. (Nasdaq: HLMN) (the “Company” or “Hillman”), a leading provider of hardware products and merchandising solutions, today announced that it has acquired Intex DIY, Inc. (“Intex”), a leading supplier of wiping cloths, consumable rags and cleaning textiles.
This acquisition expands Hillman’s Protective Solutions (“PS”) business, which includes America’s best-selling work glove, Firm Grip, as well as other consumer favorites like Gorilla Grip, Grease Monkey, AWP and Digz. Additionally, Hillman recently entered into a new partnership with Kontoor Brands to launch work gloves under the popular Wrangler® brand, which Hillman expects to roll out in 2025.
Since its founding in 2005, Intex has developed patented and innovative products which have helped reinvent the cleaning rag category. Intex’s full suite of superior-quality, high-performing products are used for home improvement, painting, general cleaning, maintenance, janitorial, auto and marine care projects. Hillman anticipates Intex’s 2024 annual revenue to be approximately
“Intex has a wide range of products in the cleaning category and will make a great addition to Hillman,” commented Doug Cahill, chairman, president, and chief executive officer of Hillman. “We will leverage the Hillman moat to sell and service this new product line with both new and existing customers. We look forward to expanding within this critical category as we seek ways to better serve our customers. We are thrilled to welcome the Intex team to the Hillman family.”
This acquisition strengthens Hillman’s position within the cleaning products category, where it currently provides a wide range of gloves to customers across North America. Like Hillman, Intex prides itself on taking care of its customers, demonstrated by Intex’s 98 percent fill rate with its top ten customers, whom it has served for an average of nearly 15 years.
The Intex acquisition marks Hillman’s second acquisition in 2024, having acquired Koch Industries, a premier provider and merchandiser of rope and twine, chain and wire rope, and related hardware products, in January. Adjacent aisle, bolt-on acquisitions are a key part of Hillman’s long-term growth strategy.
Financial terms of the transaction were not disclosed. Hillman’s wholly-owned subsidiary, Big Time Products, LLC., where Hillman’s PS business resides, was the acquiring entity.
About Intex DIY, Inc.
Founded in 2005, Intex DIY, Inc. (“Intex”) is a leading supplier of consumable rags, wiping cloths, textiles, and other cleaning supplies to the U.S. retail market for painting, general cleaning, maintenance, janitorial and auto/marine care applications. Intex operates from a 275,000 square foot manufacturing and distribution facility outside Atlanta, Georgia and sells its products through several retail channels including home improvement centers, paint retailers, hardware stores, and other general merchandisers. Intex prides itself on delivering quality and innovative products while maintaining a leading position with many of its top customers. For more information on Intex, visit www.intexsupply.com.
About Hillman Solutions Corp.
Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman Solutions Corp. (“Hillman”) and its subsidiaries are leading North American providers of complete hardware solutions, delivered with outstanding customer service to over 46,000 locations. Hillman is celebrating 60 years of service this year, a significant milestone achieved by maintaining strong company values, an innovative culture, and delivering a “small business” experience with “big business” efficiency. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & industrial customers. For more information on Hillman, visit www.hillman.com.
Forward Looking Statements
All statements made in this press release that are considered to be forward-looking are made in good faith by the Company and are intended to qualify for the safe harbor from liability established by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. You should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," “target”, “goal”, "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) unfavorable economic conditions that may affect operations, financial condition and cash flows including spending on home renovation or construction projects, inflation, recessions, instability in the financial markets or credit markets; (2) increased supply chain costs, including raw materials, sourcing, transportation and energy; (3) the highly competitive nature of the markets that we serve; (4) the ability to continue to innovate with new products and services; (5) direct and indirect costs associated with the May 2023 ransomware attack, and our receipt of expected insurance receivables associated with that cyber security incident; (6) seasonality; (7) large customer concentration; (8) the ability to recruit and retain qualified employees; (9) the outcome of any legal proceedings that may be instituted against the Company; (10) adverse changes in currency exchange rates; or (11) regulatory changes and potential legislation that could adversely impact financial results. The foregoing list of factors is not exclusive, and readers should also refer to those risks that are included in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Annual Report on Form 10-K filed on February 22, 2024. Given these uncertainties, current or prospective investors are cautioned not to place undue reliance on any such forward looking statements.
Except as required by applicable law, the Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this communication to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Contacts:
Investors
Michael Koehler
Vice President of Investor Relations & Treasury
513-826-5495
IR@hillmangroup.com
Source: Hillman Solutions Corp.
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