CINCINNATI AND TORONTO, Feb. 11, 2013 /CNW/ - The Hillman Companies, Inc. (Amex : HLM.Pr ) ("Hillman") and H. Paulin & Co., Limited (TSX: PAP.A) ("Paulin") are pleased to announce that Paulin shareholders have approved the previously announced arrangement pursuant to which Hillman will acquire all of the issued and outstanding class A common shares in the capital of Paulin. The arrangement received the approval of the requisite majority of shareholders, including approval by a "majority of the minority" shareholders, at a special meeting of shareholders held this morning. Full details of the arrangement are described in the management information circular dated January 7, 2013, which is available on SEDAR at www.sedar.com.
Implementation of the arrangement remains subject to certain customary conditions, including regulatory approvals and court approval. If court approval is obtained as expected, it is anticipated that the arrangement will close on February 19, 2013.
Headquartered in Toronto, Canada, Paulin was founded in 1920 and is a leading Canadian distributor and manufacturer of fasteners, fluid system products, automotive parts and retail hardware components. Paulin's distribution facilities are located across Canada in Vancouver, Edmonton, Winnipeg, Toronto, Montreal and Moncton, as well as in Flint, Michigan and Cleveland, Ohio. Paulin's four manufacturing facilities are located in Ontario, Canada. The Company's customers include retail hardware, industrial and automotive (both Original Equipment Manufacturers and aftermarket). Annual revenues of Paulin for 2011 were approximately C$139 million.
Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading value-added distributor of approximately 80,000 SKUs, consisting of fasteners, key duplication systems, engraved tags and related hardware items to over 20,000 retail customers in the U.S., Canada, Mexico, South America and Australia, including home improvement centers, mass merchants, national and regional hardware stores, pet supply stores and other retailers. Hillman provides a comprehensive solution to its retail customers for managing SKU intensive, complex home improvement categories. Hillman also offers its customers additional services, such as inventory management and in-store merchandising services.
In May 2010, Oak Hill Capital Partners and Hillman's management team formed a partnership to acquire Hillman. Oak Hill Capital Partners is a private equity firm with more than $8 billion of committed capital from leading entrepreneurs, endowments, foundations, corporations, pension funds and global financial institutions. For more information about Oak Hill Capital Partners, visit www.oakhillcapital.com.
SOURCE H. Paulin & Co. Limited
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H. Paulin & Co., Limited shareholders approve plan of arrangement with The Hillman Companies, Inc.
Feb 11, 2013, 12:25 EST