TAMPA, Fla., Jan. 7, 2025 -- Hyde Park Capital announced today that its client, Harney Hardware ("Harney"), a provider of branded door and bathroom hardware, has been acquired by PrimeSource Brands ("PrimeSource"), a leader in specialty building products serving the repair, remodel and new housing segments. PrimeSource is a portfolio company of Clearlake Capital Group, L.P. ("Clearlake"). Hyde Park Capital served as the exclusive investment banker to Harney for this transaction. BakerHostetler served as legal counsel to Harney.
Tom Koos, CEO of PrimeSource Brands, stated: "The Harney team has developed an impressive portfolio of products that complements our existing offerings. The acquisition of Harney further advances our mission to create the leading branded specialty building products platform with the most extensive service network in the industry."
Preston Copenhaver, President and Owner of Harney Hardware, commented: "The Harney Hardware team is excited to join the PrimeSource Brands family. Our focus has always been on delivering quality products and maintaining high customer satisfaction, which are values that the PrimeSource team holds in high regard. I'm confident this step will secure a bright future for the business and everyone who's been a part of its journey."
Mr. Copenhaver also added, "The Hyde Park Team's expertise, persistence, and dedication demonstrated throughout the process were critical to achieving this successful outcome. I'm very grateful to have had Hyde Park as my trusted advisor throughout this process."
Matthew Gladdish, Director at Hyde Park Capital, reflected on the transaction: "It has been a privilege to advise Preston and the Harney team throughout this process. Harney's catalogue of door and bathroom hardware is a great match for the PrimeSource platform. We are pleased to have helped Harney achieve this outcome and are excited to see the business continue to grow."
Luke Horanski, Vice President at Hyde Park, added: "Preston and his team were a pleasure to work with. The combination of product offering and distribution strategy made PrimeSource a natural fit, and we could not be more excited for the partnership. We are very grateful to have had the opportunity to work with the Harney, PrimeSource, and Clearlake teams."
About Harney Hardware
Founded in 1985 and headquartered in the Tampa Bay, FL area, Harney Hardware is a manufacturer and distributor of value-engineered door and bathroom hardware products. Harney offers a robust product line including bathroom hardware sets, residential door locks, plumbing fixtures, ceiling fans and accessories, decorative hardware, door bolts and latches, door stops and hinges, bathroom grab bars, commercial door hardware, and shower rods. Harney has cultivated relationships that enable the company to provide a diverse selection of high-quality products to customers across the U.S. Harney's commitment to quality and customer satisfaction has established it as a trusted name in the hardware industry. For additional information, please visit https://www.harneyhardware.com/.
About PrimeSource
PrimeSource Brands is a national provider of specialty branded residential building products. The Company's product offering spans more than 85,000 SKUs, including construction fasteners, cabinet knobs & pulls, and functional hardware, among others. PrimeSource Brands operates an expansive footprint, serving over 45,000 customer locations through 58 strategically located distribution centers in 26 states. PrimeSource Brands plays a crucial role for customers who rely on its brand value, breadth of offering and logistics capabilities. For additional information, please visit https://psbrands.com/.
About Clearlake
Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are technology, industrials and consumer. Clearlake currently has over $85 billion of assets under management and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland, Singapore, and Abu Dhabi, UAE. For additional information, please visit https://clearlake.com/.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused boutique investment banking firm specializing in mergers and acquisitions and focusing on serving the corporate finance needs of successful founder and family-owned companies. Hyde Park's principals have extensive investment banking experience managing merger and acquisition engagements, including executing sell-side and buy-side sale of company assignments, recapitalizations, financial advisory services, fairness opinions, and raising growth capital and acquisition financing for companies, including equity, mezzanine, and senior debt. Hyde Park Capital has extensive experience across numerous industry sectors, including industrial, technology, healthcare, business, and financial services. Hyde Park Capital is headquartered in Tampa, Florida, and is a member of FINRA and SIPC. Hyde Park Capital is also a member of the Geneva Capital Group (GCG) International M&A Alliance (see www.gcg.com). For additional information, please visit www.hydeparkcapital.com.
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