Oct 20, 2017
High Road Capital Partners Acquires Akron Hardware
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