Harney Hardware joins PrimeSource Brands in high-profile acquisition

Harney Hardware, a prominent manufacturer and distributor of door and bathroom hardware, has been acquired by PrimeSource Brands, a leader in specialty building products. This strategic acquisition aims to expand PrimeSource’s portfolio and strengthen its position in the repair, remodel, and new housing segments. PrimeSource is owned by Clearlake Capital Group, L.P., while Hyde Park Capital acted as the exclusive investment banker for the deal.

Tom Koos, CEO of PrimeSource Brands, highlighted that Harney Hardware’s diverse product portfolio complements PrimeSource’s offerings and enhances its mission to establish a leading branded specialty building products platform with an extensive service network. He noted that the acquisition reflects PrimeSource’s commitment to innovation and customer-centric solutions.

Preston Copenhaver, President and Owner of Harney Hardware, expressed enthusiasm for the acquisition, stating that the company’s dedication to quality and customer satisfaction aligns seamlessly with PrimeSource’s values. He added that joining PrimeSource ensures a promising future for Harney Hardware and its stakeholders.

Copenhaver also credited Hyde Park Capital for its pivotal role in achieving a successful outcome. He praised the firm’s persistence and expertise throughout the transaction process, underscoring its value as a trusted advisor.

Harney Hardware: A Legacy of Quality

Founded in 1985 and headquartered in Tampa Bay, Florida, Harney Hardware is renowned for its wide-ranging product line, which includes residential door locks, bathroom grab bars, plumbing fixtures, decorative hardware, and commercial door hardware. The company’s value-engineered solutions and focus on customer satisfaction have made it a trusted name in the industry.

PrimeSource Brands: Expanding Its Reach

PrimeSource Brands is a national provider of specialty residential building products, offering over 85,000 SKUs, including cabinet knobs, construction fasteners, and functional hardware. With 58 strategically located distribution centers across 26 states, PrimeSource serves over 45,000 customer locations, leveraging its broad logistics capabilities and extensive product range.

Matthew Gladdish, Director at Hyde Park Capital, commented that Harney Hardware’s product catalogue and expertise perfectly complement PrimeSource’s platform. He expressed confidence that this acquisition will drive continued growth for the business. Similarly, Luke Horanski, Vice President at Hyde Park, remarked that Harney’s product diversity and distribution strategy made PrimeSource an ideal partner.

Strategic Implications For The Industry

The acquisition highlights a growing trend of consolidation in the hardware and specialty building products sector. With an emphasis on creating streamlined platforms that offer comprehensive solutions, companies like PrimeSource are positioning themselves as indispensable partners for large-scale distributors and retailers.