Hillman Solutions Corp. Expands Its Cleaning Products Portfolio
CINCINNATI - Hillman Solutions Corp. (Nasdaq: HLMN), a prominent provider of hardware products and merchandising solutions, has announced its acquisition of Intex DIY, Inc., a leading supplier of wiping cloths, consumable rags, and various cleaning textiles. This strategic move enhances Hillman's Protective Solutions (PS) business and demonstrates its commitment to diversifying its product offerings.
Details of the Acquisition
This acquisition marks a significant improvement to Hillman's existing product lineup, which already features well-known work glove brands like Firm Grip, Gorilla Grip, Grease Monkey, AWP, and Digz. Furthermore, Hillman recently revealed a partnership with Kontoor Brands to launch work gloves under the iconic Wrangler brand, set to debut in 2025.
About Intex DIY, Inc.
Founded in 2005, Intex DIY has built a strong reputation for its innovative and patented products, establishing itself firmly in the cleaning rag market. The company provides a wide array of high-quality, performance-driven products designed for home improvement, painting, general cleaning, maintenance, and even auto and marine care projects. Hillman anticipates that Intex will generate around $55 million in revenue in the year following the acquisition.
Leadership Insights
Doug Cahill, Chairman, President, and Chief Executive Officer of Hillman, expressed his excitement about the acquisition, stating, "Intex offers a diverse range of products in the cleaning category and will be a valuable addition to Hillman. We are ready to utilize our resources for effective sales and service of this new product line, with the goal of enhancing our offerings for both new and existing customers. We are thrilled to welcome the Intex team into the Hillman family."
Enhancing Market Presence
This acquisition strengthens Hillman's position in the cleaning products market, where it has developed a varied selection of gloves catering to a broad customer base across North America. Like Hillman, Intex is committed to customer satisfaction, as reflected in its impressive 98 percent fill rate with its top ten customers, many of whom have been served for nearly 15 years on average.
Recent Acquisitions
Notably, the acquisition of Intex marks Hillman's second major purchase in 2024, following its acquisition of Koch Industries, a leading provider of rope, twine, and related hardware products, which was completed in January. These strategic acquisitions are key components of Hillman's long-term growth strategy.
Transaction Financials
The financial details of the transaction have not been disclosed. However, it is important to note that Hillman's subsidiary, Big Time Products, LLC, is responsible for managing Hillman’s Protective Solutions business, which facilitated this acquisition.
About Hillman Solutions Corp.
Founded in 1964 and based in Cincinnati, Hillman Solutions Corp. is recognized as a leading provider of comprehensive hardware solutions in North America. The company is distinguished by its exceptional customer service, serving over 46,000 retail locations. As Hillman celebrates 60 years of service, it continues to uphold strong values, foster an innovative culture, and deliver a "small business" experience with "big business" efficiency. Hillman specializes in creating innovative products and merchandising solutions that enhance the customer experience across various market segments, including home improvement centers and mass merchants.
Frequently Asked Questions
What is the significance of Hillman's acquisition of Intex DIY?
The acquisition enhances Hillman's product offerings in the cleaning category and strengthens its market presence, particularly in protective solutions.
What products does Intex DIY specialize in?
Intex DIY specializes in consumable rags, wiping cloths, cleaning textiles, and innovative cleaning supplies targeted at various sectors, including home improvement and janitorial applications.
When is the new Wrangler brand work glove expected to launch?
The Wrangler brand work glove collaboration is anticipated to launch in 2025.
How has Intex demonstrated its commitment to customers?
Intex boasts a 98 percent fill rate with its top ten customers, showcasing its reliability and customer-focused approach.
What other acquisitions has Hillman made recently?
Earlier in 2024, Hillman completed another acquisition by acquiring Koch Industries, which enhances its portfolio in related hardware products.
