Jun 17, 2019
Portfolio Company Banner Solutions Acquires Berg Wholesale
High Road Capital Partners (www.highroadcap.com
) announced today that its portfolio company Banner Solutions (www.bannersolutions.com
) has completed the acquisition of Berg Wholesale (www.bergwholesale.com
), marking the fourth acquisition for the company under High Road Capital’s ownership.
Based in Tualatin, Oregon, Berg Wholesale is a leading wholesale distributor of door hardware, bath hardware, and security products for the residential and multi-family housing markets. In addition to its Portland-area headquarters, Berg has distribution centers near Anaheim, California, and Orlando, Florida.
Banner Solutions, formerly Midwest Wholesale Hardware, was acquired by High Road Capital Partners Fund II in February 2017. Its acquisition of Berg Wholesale follows its acquisitions of Akron Hardware, Hardware Suppliers Inc., and Strauss Lock Distributors.
“With the acquisition of Berg Wholesale, Banner Solutions further expands its geographic reach and customer base, and adds new capabilities to service the multi-family market,” said Scott Rubino, Principal, High Road Capital Partners.
“We’re excited to join the Banner Solutions team and bring our customers an enhanced product offering and expanded service capabilities,” said Cathy Mick, General Manager, Berg Wholesale. Ms. Mick will continue to lead the day-to-day functions of the legacy Berg Wholesale business at Banner Solutions.
Banner Solutions’ acquisition of Berg Wholesale closed on May 31, 2019. Ben Schnakenberg, Partner, and Mr. Rubino led the transaction for High Road and were assisted by Nicholas Martino, Operating Partner; Tom Cassidy, Senior Associate; and Anthony Tripodoro, Associate.
Monroe Capital provided financing for the transaction. Jones Day provided legal counsel to High Road. Transaction consideration was not disclosed.
High Road Capital Partners has completed 53 transactions – 20 platform investments, 26 add-on acquisitions and seven exits – since its founding in 2007.
For further information, please contact Scott Rubino of High Road Capital Partners at (212) 554-3291.
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
Banner Solutions is a leading value-added wholesale distributor of door hardware, electronic access control and security products for the commercial, residential and institutional facilities markets. Banner Solutions provides expert customer service and offers an extensive inventory of all major brands and hard-to-find components for maintenance and repair applications. From its headquarters in Kansas City, Missouri, and its nationwide network of distribution centers, Banner provides customers with the best combination of coverage, technical expertise, and service in the door hardware industry. www.bannersolutions.com
Berg Wholesale is a leading wholesale distributor of door hardware, bath hardware, and security products for the residential and multi-family housing markets. Headquartered in Tualatin, Oregon, the company also has distribution centers near Anaheim, California, and Orlando, Florida. www.bergwholesale.com