CINCINNATI AND TORONTO, Feb. 19, 2013 /CNW/ - The Hillman Companies,
Inc. (Amex: HLM.Pr) ("Hillman") and H. Paulin & Co., Limited (TSX:
PAP.A) ("Paulin") are pleased to announce the successful completion of
the previously announced arrangement pursuant to which Hillman acquired
all of the issued and outstanding Class A common shares (the "Shares")
of Paulin for a cash purchase price of C$27.60 per Share.
With the completion of the arrangement, the Shares are expected to cease
to be listed for trading on the Toronto Stock Exchange on or about the
close of business on February 25, 2013. Paulin intends to apply to the
relevant securities regulatory authorities to cease to be a reporting
issuer in the applicable jurisdictions in Canada.
Details of the transaction are contained in Paulin's management
information circular dated January 7, 2013, which can be found at www.sedar.com.
Advisors and Legal Counsel
Barclays Bank PLC acted as financial advisor to Hillman in connection
with the transaction and provided committed debt financing. Stikeman
Elliott LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as
legal counsel to Hillman. Goodmans LLP acted as legal counsel to
Paulin. Ernst & Young LLP acted as financial advisor and McCarthy
Tétrault LLP acted as legal counsel to the special committee of the
board of directors of Paulin.
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 acquired Hillman. Members of
Hillman's management team also invested in Hillman. Oak Hill Capital
Partners is a private equity firm managing funds 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,
This press release has been issued pursuant to the early warning press
release requirements under Canadian securities laws, which also require
a report to be filed with the B.C., Alberta, Manitoba and Ontario
Securities Commissions containing additional information with respect
to the foregoing matters. Hillman has acquired ownership of, and
control over, 3,288,000 Shares, being 100% of the issued and
outstanding Shares, in exchange for cash consideration of $27.60 per
Share. The acquisition was entered into for the purpose of integrating
Paulin into Hillman's North American operations.
The Hillman Companies Inc. | 10590 Hamilton Avenue | Cincinnati,
SOURCE: H. Paulin & Co. Limited
For further information:
For more information on Paulin visit www.hpaulin.com or call Investor Relations at (416) 694-3360, ext. 135.
For more information on Hillman, please visit www.hillmangroup.com or call Investor Relations at (513) 851-4900, ext. 2084.