Cumming, GA, December 2019
HCI Equity Partners announced today the sale of Delaney Hardware (“Delaney”) to Sargent and Greenleaf, a portfolio company of OpenGate Capital, on December 20, 2019. Sargent and Greenleaf is a leading brand in the specialized high security lock industry. Financial terms were not disclosed.
Headquartered outside of Atlanta, Georgia, Delaney is the leading provider of high-quality branded locks, door hardware and hollow metal doors. The Company has diverse exposure to the single-family, multi-family and commercial construction markets and balanced exposure to new construction and repair and renovation markets. Delaney’s full product line is available throughout the U.S. and includes door hardware, digital locks, smartlocks, barn door hardware, bath accessories and trim hardware.
“Our partnership with HCI was very successful. They were engaged in helping drive our growth strategy and took a genuine interest in our company, employees and long-term success,” said Libby Zappala, President of Delaney Hardware. “We are excited about the next stage of company growth with Sargent & Greenleaf and look forward to offering our customers an even broader product portfolio with the same quality service.”
“We were very pleased with our partnership with Michael O’Brien, founder of Delaney, Libby Zappala and the entire management team at Delaney. They were an excellent team to work with and we are confident they will continue to be successful. Together we were able to leverage our industry and operating experience to help grow the business and generate an attractive return for our investors,” stated HCI Managing Partner Dan Dickinson.
Lincoln International served as the financial advisor and McDermott Will & Emery served as legal counsel to Delaney Hardware.