Related Party Transactions
|12 Months Ended|
Dec. 29, 2018
|Related Party Transactions [Abstract]|
|Related Party Transactions||
The Company has recorded aggregate management fee charges and expenses from CCMP and Oak Hill Funds of $546, $519, and $550 for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively.
The Company recorded proceeds from the sale of Holdco stock to members of management and the Board of Directors of $500 for the year ended December 30, 2017 and $500 for the year ended December 31, 2016. There were no sales the year ended December 29, 2018.
In the year ended December 29, 2018, the Company paid a dividend of approximately $3,780 to Holdco for the purchase of 4,200 shares of Holdco stock from former members of management. No such dividends were paid in fiscal 2017 nor fiscal 2016.
Gregory Mann and Gabrielle Mann are employed by Hillman. Hillman leases an industrial warehouse and office facility from companies under the control of the Manns. The Company has recorded rental expense for the lease of this facility on an arm's length basis. Rental expense for the lease of this facility was $350 for the year ended December 29, 2018, $353 for the year ended December 30, 2017, and $343 for the year ended December 31, 2016.
The Hillman Group Canada ULC, subsidiary of the Company, entered into three leases for five properties containing industrial warehouse, manufacturing plant, and office facilities on February 19, 2013. The owners of the properties under one lease are relatives of Richard Paulin, who was employed by The Hillman Group Canada ULC until his retirement effective April 30, 2017, and the owner of the properties under the other two leases is a company which is owned by Richard Paulin and certain of his relatives. The rental expense for the three leases was $664 for the year ended December 29, 2018, $663 for the year ended December 30, 2017, and $621 for the year ended December 31, 2016.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef