Midwest Wholesale Hardware completed the acquisition of the assets of Strauss Lock Distributors. Financial terms of the deal were not revealed.
Based in Des Moines, Iowa, Strauss Lock Distributors is a distributor of residential door hardware and security products. In addition to its Des Moines headquarters, the company operates distribution centers in Phoenix, Arizona and Charlotte, North Carolina. SLD provides service and solutions for the residential builder market.
“SLD’s focus on the residential builder market and strength in the building products channel are tremendous complements to Midwest Wholesale Hardware’s extensive commercial and institutional offering,” said Scott Rubino, Principal, High Road Capital Partners. “In addition, Midwest will be able to extend SLD’s reach into several new geographic markets.”
“We’re excited to join the Midwest Wholesale Hardware team and have the company’s national distribution network behind us,” said Dan Swift, President, Strauss Lock Distributors, who will continue to lead SLD following the acquisition. “Our new partnership will provide access to resources and expertise that will take SLD to the next level.”
Midwest Wholesale Hardware was acquired by High Road in February 2017 and was the sixth platform company for High Road Capital Partners Fund II. Strauss Lock Distributors is the second acquisition completed by Midwest Wholesale Hardware under High Road’s ownership and follows the acquisition of Akron Hardware in October 2017.
New York-based High Road Capital Partners, which also owns General Tools and Instruments, has completed 46 transactions – 17 platform investments, 23 add-on acquisitions and six exits – since its founding in 2007.