Daily News: October 20, 2017

Monroe Supports High Road Capital Acquisition of Akron Hardware

High Road Capital Partners completed the acquisition of Akron Hardware Consultants. Akron Hardware will be combined with Midwest Wholesale Hardware, which High Road acquired in February 2017 and was the sixth platform company for High Road Capital Partners Fund II.

Monroe Capital provided financing to support the transaction.

Akron Hardware is a wholesale distributor of commercial and institutional door hardware. Akron also services the residential door hardware market through its subsidiary Hardware Suppliers, and the online locksmith supply market through its Preferred Lock Supply division.

Akron’s products span from traditional mechanical door hardware to electronic access control security products. Headquartered in Akron, OH, Akron Hardware also operates distribution centers in Arizona, Texas, Tennessee and Pennsylvania, and a sales office in North Carolina.

High Road’s acquisition of Akron Hardware closed on October 6, 2017. Ben Schnakenberg led the transaction for High Road and was assisted by Scott Rubino, principal: Nick Martino, operating partner and Tom Cassidy, associate. Monroe Capital provided financing for the transaction. Concord Capital advised Akron Hardware. High Road was advised by Normandy Advisors and Jones Day. Transaction consideration was not disclosed.

High Road Capital Partners is a private equity firm focused on smaller middle market transactions. The company has completed 44 transactions – 17 platform investments, 21 add-on acquisitions and six exits – since its founding in 2007.