Anchoring Success: Kinderhook Partners with Garfield Family on Specialty Fastening and Anchoring Solutions Platform, US Anchors

NEW YORK, Jan. 28, 2025 /PRNewswire/ -- Kinderhook Industries, LLC ("Kinderhook") announced today the acquisition of US Anchors ("USA" or the "Company"), in partnership with Ted and David Garfield (the "Garfield Family"). US Anchors represents Kinderhook's 31^st light manufacturing / automotive platform investment since inception. Financial terms of the transaction were not disclosed.

Founded in 1968 by the Garfield Family and headquartered in Norwalk, CT, USA is the parent company for the TOGGLER®, Wej-It®, and Heckmann® brands of premium specialty construction anchors, fasteners, and other building products, as well its distribution arm, Gotham Building Supplies. USA is one of the only American anchor manufacturers that produces most of its anchors and custom products domestically. The TOGGLER brand is a consumer-facing brand that specializes in manufacturing light-to-medium duty fasteners and hollow wall solutions. The Wej-It brand manufactures medium-to heavy duty products that compete in the mechanical anchor, adhesive anchor, and screw anchor categories. The Heckmann brand manufactures and distributes specialty masonry anchors and wall systems direct to masonry contractors.

In connection with the transaction, Jordan Eisenberg will be joining the USA leadership team as Chief Executive Officer and will collaborate with the Garfield Family to drive the Company's continued success. Jordan Eisenberg is a seasoned CEO with a background in the consumer products sector and was previously the CEO of Grand Basket, one of the largest importers of patio furniture in the US. The Garfield Family will retain an ownership stake in the Company, and Ted Garfield will join the Company's Board of Directors.

"I am excited to work with Kinderhook as we take USA into its next phase of growth with a focus on maximizing the potential of all USA brands," said Jordan Eisenberg. "I have been very impressed with the Company's significant achievements thus far and look forward to building on that momentum through both organic growth and strategic acquisitions."

Ted Garfield, former President, and CEO of US Anchors said, "On behalf of my family, we are excited to partner with Kinderhook. Since my father's founding of the original business over 50 years ago, the Company has continued to drive success through our dedication to our customers. We are excited to work with both the Kinderhook team and Jordan Eisenberg to maintain this tradition and take the Company to new heights."

Chris Michalik, Managing Director at Kinderhook, said, "We are looking forward to partnering with the Garfield Family and the rest of the USA team to accelerate the Company's growth through continued customer service and product availability, as well as organic and inorganic geographic expansion." Nate Druckenmiller, Principal at Kinderhook, added, "The Garfield family has transformed USA over many years and has laid the groundwork for significant growth ahead. We are eager to support USA in accelerating its expansion while preserving the strong culture and commitment to excellence that have been key to the Company's success."

Kirkland & Ellis LLP served as legal counsel to Kinderhook. Canaccord Genuity Investment Banking served as the exclusive financial advisor and Latham & Watkins LLP acted as legal advisor to the Garfield Family. Financing for the transaction was provided by Twin Brook Capital Partners and Kayne Anderson Private Credit.

About Kinderhook Industries

Founded in 2003, Kinderhook Industries, LLC is a private investment firm that has raised $8.5 billion of committed capital. We have made in excess of 450 investments and follow-on acquisitions since inception. Kinderhook's investment philosophy is predicated on matching differentiated, growth-oriented investment opportunities with financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / industrial services, and light manufacturing / automotive sectors.

For more information, please visit: www.kinderhook.com

About US Anchors

US Anchors is the parent company for the TOGGLER®, Wej-It®, and Heckmann® brands of premium specialty construction anchors, fasteners, and other building products, as well as its distribution arm, Gotham Building Supplies. The TOGGLER brand is a consumer-facing brand that specializes in manufacturing light-to-medium duty fasteners and hollow wall solutions. The Wej-It brand manufactures medium-to heavy duty products that compete in the mechanical anchor, adhesive anchor, and screw anchor categories. The Heckmann brand produces and distributes specialty masonry anchors and wall systems direct to masonry contractors. The Company was founded in 1968, and is headquartered in Norwalk, CT.

For more information, please visit: https://toggler.com & https://heckmannbuildingprods.com

SOURCE Kinderhook Industries