Hardware Distributors, Inc.
(Download PDF announcement here.)
Hardware Distributors, Inc. (“HDI”), founded in 1948, is a leading distributor, installer and servicer of commercial doors and related door finish hardware, with extensive relationships in North Carolina and adjacent markets. Steve Woodard, the President and owner of HDI stated “With the help of Windward Advisors I was able to find a company with the same business values as HDI. Steve and Barry were very attentive from beginning to end and kept me prepared and informed as we worked through all aspects of the sale. After meeting with John Katter of KENDELL, I knew it was the right decision. KENDELL will help HDI grow in the southeast region and add value to the overall enterprise.”
KENDELL Holdings (“KENDELL”) provides high quality door opening and specialty products, with services for the commercial construction industry. Their focus centers on the institutional and commercial markets, both domestically and globally. John Katter, President & CEO of KENDELL, stated “The addition of HDI adds to the strength and presence of KENDELL on the east coast. We are excited to bring our two brands together comprehensively to serve our customers and their communities.” KENDELL is a platform company of Keystone Capital, a Chicago-based private investment firm focused on working in partnership with management teams to create long-term value by investing patient capital.
Windward Advisors, LLC (“Windward”) specializes in helping business owners better prepare their businesses to maximize shareholder value by providing strategic planning and corporate growth advisory services, and by representing owners in the execution of sale, acquisition, and capital structuring transactions. Windward is an advocate of ensuring that business owners are knowledgeable about their alternatives and properly prepared before pursuing transactions.
Steve Howell, a Co-Founder of Windward stated; “It was a pleasure to work closely with Steve and his wife Vicki to manage the planning and execution and close this successful sale transaction. We are very impressed with KENDELL and their financial partner Keystone Capital, and believe they are a great company to continue to expand in the southeast on the strong relationships and services that HDI has developed over the last 70 plus years.”
Barbara Ruby, a Partner with the law firm of Fox Rothschild, LLP in their Greensboro, NC office, was also a very experienced and trusted advisor on the team that successfully structured, negotiated, and closed this transaction.