January 20, 2011

Cincinnati-based The Hillman Group purchased East Moline, Ill.-based Servalite, distributor of residential fasteners and related products and said it will promote the Servalite brand as Hillman's "premium line of refillable assortments and electrical parts."

Servalite was founded in 1979 by Tom and Jennifer Rowe, who will remain in their current roles with Servalite. Annual revenues in 2009 were more than $20 million, according to the release announcing the acquisition. Terms of the deal were not disclosed.