Hillman Acquires (Nasdaq: HLMN) Intex DIY
Hillman Solutions Corp. (Nasdaq: HLMN) (the “Company” or “Hillman”), a leading provider of hardware products and merchandising solutions, today announced that it has acquired Intex DIY, Inc. (“Intex”), a leading supplier of wiping cloths, consumable rags and cleaning textiles.
This acquisition expands Hillman’s Protective Solutions (“PS”) business, which includes America’s best-selling work glove, Firm Grip, as well as other consumer favorites like Gorilla Grip, Grease Monkey, AWP and Digz. Additionally, Hillman recently entered into a new partnership with Kontoor Brands to launch work gloves under the popular Wrangler® brand, which Hillman expects to roll out in 2025.
Since its founding in 2005, Intex has developed patented and innovative products which have helped reinvent the cleaning rag category. Intex’s full suite of superior-quality, high-performing products are used for home improvement, painting, general cleaning, maintenance, janitorial, auto and marine care projects. Hillman anticipates Intex’s 2024 annual revenue to be approximately $55 million.
“Intex has a wide range of products in the cleaning category and will make a great addition to Hillman,” commented Doug Cahill, chairman, president, and chief executive officer of Hillman. “We will leverage the Hillman moat to sell and service this new product line with both new and existing customers. We look forward to expanding within this critical category as we seek ways to better serve our customers. We are thrilled to welcome the Intex team to the Hillman family.”
This acquisition strengthens Hillman’s position within the cleaning products category, where it currently provides a wide range of gloves to customers across North America. Like Hillman, Intex prides itself on taking care of its customers, demonstrated by Intex’s 98 percent fill rate with its top ten customers, whom it has served for an average of nearly 15 years.
The Intex acquisition marks Hillman’s second acquisition in 2024, having acquired Koch Industries, a premier provider and merchandiser of rope and twine, chain and wire rope, and related hardware products, in January. Adjacent aisle, bolt-on acquisitions are a key part of Hillman’s long-term growth strategy.