Midwest Wholesale Hardware Acquires Strauss Lock Distributors
Midwest Wholesale Hardware completed the acquisition of the assets of Strauss Lock Distributors.
Based in Des Moines, Iowa, Strauss Lock Distributors (SLD) is a wholesale distributor of residential door hardware and security products. In addition to its Des Moines headquarters, the company operates distribution centers in Phoenix, Ariz. and Charlotte, N.C.
“SLD’s focus on the residential builder market and strength in the building products channel are tremendous complements to Midwest Wholesale Hardware’s extensive commercial and institutional offering,” said Scott Rubino, principal, High Road Capital Partners. “In addition, Midwest will be able to extend SLD’s reach into several new geographic markets.”
Midwest Wholesale Hardware’s acquisition of Strauss Lock Distributors closed on December 22, 2017. Transaction consideration was not disclosed. Ben Schnakenberg, partner, and Rubino led the transaction for High Road and were assisted by Nick Martino, operating partner, and Tom Cassidy, associate. Monroe Capital provided financing for the transaction.
Midwest Wholesale Hardware was acquired by High Road in February 2017 and was the sixth platform company for High Road Capital Partners Fund II. Strauss Lock Distributors is the second acquisition completed by Midwest Wholesale Hardware under High Road’s ownership; it follows the acquisition of Akron Hardware in October 2017.