Lester, PA – May 20, 2016 – Fairmount Partners assisted the owners of The Jacob Holtz Co, a global manufacturer of casters, wheels and self-adjusting table levelers, to complete a deal with Hudson Lock, a manufacturer of highly-engineered custom and specialty medium-security locks. Terms of the transaction were not disclosed.
Since the 1960s, Jacob Holtz has been recognized as the largest bed frame caster manufacturer in the world, and has since expanded its product portfolio to include a broad portfolio of patent-protected casters and related products for specialty applications within the furniture, industrial, retail display, food processing equipment and restaurant equipment end-markets.
Bill Frame, Chief Executive Officer of Jacob Holtz, commented: “We have been pleased with the progress Jacob Holtz has made in recent years. As the Company continues to expand its position as the dominant player in the bed frame caster market, while more fully developing its other growth product lines including specifically the X-Caster, SuperLevel and TableShox products, Jacob Holtz quickly emerged as an attractive acquisition candidate for specialty industrial manufacturing firms such as Hudson Lock. We wish Hudson Lock, the continuing members of the Jacob Holtz management team, and the Company’s employees continued success going forward.
Fairmount Partners served as the exclusive financial advisor to the Company and its shareholders. The law firm of Cozen O’Connor and accounting firm RSM US LLP served as the Company’s legal and accounting advisors.
About Jacob Holtz
Jacob Holtz began operations in Philadelphia in 1949, successfully expanding and subsequently moving into its new headquarters in Lester, PA in 2007. The Company further expanded its business with the acquisition of PlastiGlide in 2014, the Company’s third acquisition in Jacob Holtz’s history. Exceptional service, world-class manufacturing capabilities, global sourcing capabilities and employees’ commitment to excellence have fueled the Company’s growth for the past 65+ years. Please visit: www.jacobholtz.com
About Hudson Lock, LLC
Since 1963, Hudson Lock has been designing and manufacturing highly engineered custom and specialty medium-security locks and locking systems to meet customers’ specifications. Hudson was founded in 1963 as a manufacturer of lock plugs for the door handle manufacturing industry. The company’s original products included lock plugs for cabinet handles, camping trailer handles and screen-door handles. During the 1970’s Hudson began to diversify its customer base and to supply locks to OEM customers in several different industries. These new, diverse industries included manufacturers of office furniture, bank deposit bags, gasoline pumps, and mail boxes.
Hudson Lock and its family of businesses have been owned by Waveland Investments, LLC and senior management since 2004. Please visit: www.hudsonlock.com
About Fairmount Partners
Fairmount Partners is one of the largest investment banking groups in the Mid-Atlantic region. The firm specializes in advising middle-market growth companies with mergers and acquisitions, capital raising and strategic advice. Fairmount has completed more than 165 transactions throughout North and South America, Europe, Asia and Australia. For more information, please visit: www.fairmountpartners.com
Contact: Jonathan Smith
Fairmount Partners is a registered Broker Dealer, member FINRA (www.finra.org) and SIPC (www.sipc.org).