Hillman Agrees To Acquire minuteKEY
CINCINNATI, June 4, 2018 /PRNewswire/ -- The Hillman Group, Inc. ("Hillman"), a leading solution provider to the retail hardware market, today announced that it has entered into a definitive agreement to acquire Minute Key Holdings Inc. ("minuteKEY"), an innovative leader in self-service key duplicating kiosks. Financial terms were not disclosed.
The transaction will join together Hillman's full-service key cutting platform with minuteKEY's self-service key cutting kiosks, building on both companies' strong cultures and investment in innovation to provide significant service and technology benefits to retailers and customers. The unified key-cutting platform will be backed by KeyHero, Hillman's digital key backup and retrieval technology platform.
Greg Gluchowski, President and CEO of Hillman, said, "Hillman's key duplication and origination business is primarily driven by the hardware desk at home improvement retailers across North America. By combining that retail presence with minuteKEY's network of self-service kiosks, we will be able to offer consumers a simple, consistent, technology-enabled solution regardless of how, when, and where they want to have their key made."
Randy Fagundo, President and CEO of minuteKEY, said, "As part of Hillman we will be able to collectively enhance the service level we bring to our retail partners and customers and the speed at which we deploy new technologies for their benefit."
The transaction is subject to customary closing conditions and receipt of required regulatory approvals.
Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading North American provider of complete hardware solutions, delivered with industry best customer service to over 26,000 customers. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & Industrial customers. Leveraging a world-class distribution and sales network, Hillman delivers a "small business" experience with "big business" efficiency.
For more information, please visit our website at hillmangroup.com or call Investor Relations at (513) 851-4900, ext. 60292.
minuteKEY makes the world's first patented self-service, key duplication kiosk. As innovators in an age-old industry, minuteKEY founders invested several years developing the technology to create a highly accurate, secure and easy-to-use key-cutting device. Today's kiosk, found in thousands of high-traffic retail locations in the United States and Canada including Walmart, Lowe's, and Menards, combines innovations in robotics, electronics, and software engineering. Founded in 2008 and based in Boulder, Colo., minuteKEY was ranked 11th on Inc. magazine's list of the 5,000 fastest-growing private companies in the U.S. for 2014.
Visit minuteKEY.com or more information and kiosk locations.
SOURCE The Hillman Group, Inc.
Released June 4, 2018