Hargis Industries, LP has sold its operating division, ST Fastening Systems, to The Hillman Companies, Inc. (NYSE-AMEX: HLM.PR) out of Cincinnati, Ohio. The sale was announced Nov. 9.
Founded in 1964, Hillman is a leading North American provider of complete hardware solutions to more than 26,000 customers. Hillman’s focus is designing innovative products and merchandising programs to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, as well as OEM and industrial customers. Leveraging a world-class distribution and sales network, Hillman delivers a “small business” experience with “big business” efficiency.
Hillman believes that ST Fastening Systems’ core product line of specialty fasteners fits well with Hillman’s fastener portfolio. ST Fastening Systems products are sold to metal building fabricators, hardware wholesalers, and building products distributors in the U.S. Hillman and ST Fastening Systems both have a strong commitment to customer focus and innovation within their product lines. ST Fastening Systems’ headquarters will remain in Tyler, Texas and it will continue to operate its distribution center in Cincinnati, Ohio.
Industry veteran Bruce Crouch will continue as ST Fastening Systems president. Crouch said “I am very excited about the additional opportunities this acquisition will afford ST Fastening Systems. Mr. Hargis founded this company in 1992. His philosophy has always been to take very good care of the employees and they will take very good care of the business. Mr. Hargis started ST Fastening Systems because he saw a need in the construction fastener industry for a higher level of customer service and product quality. He also wanted to introduce problem-solving innovation to a market in which products were basically static commodities. Mr. Hargis successfully accomplished his goals! ST Fastening Systems has a workforce with virtually no turnover. ST Fastening Systems is the unquestioned market leader in customer satisfaction and product quality. Throughout its twenty-five years, ST Fastening Systems has introduced new concepts like the KWIKSEAL® thread design, high-speed die casting for long-life fasteners, precision powder coating, the Micro-Bit® drilling point for metal-to-wood fasteners, and many other product and process innovations that are unique in this market. Mr. Hargis has made amazing contributions to our industry over his forty-plus years of service. He will be greatly missed as he moves to retirement.”
Crouch went on to say “Hillman brings tremendous engineering resources to the table, which will allow us to continue to bring problem-solving innovations to our market. With its many distribution centers across the U.S., Canada, and Mexico, there may be an opportunity to decentralize some of our service points, making us more accessible to a larger geographic market. It is easy to see why we are excited about our future with the Hillman Group.”
Source: ST Fastening Systems press release