Nova Capital Management announces merger of its portfolio companies, Shur-Line and Bulldog, with World and Main LLC
CRANBURY, N.J., Oct. 8, 2018 /PRNewswire/ -- Nova Capital Management is pleased to announce that it has merged its consumer brands, Shur-Line(TM) and Bulldog Hardware(TM), with World and Main, LLC's retail brands, formerly owned by Littlejohn & Co. This merger brings together excellence in product development, global sourcing, manufacturing, logistics, channel access, and customer support to national, regional, co-op and independent hardware channels.
World and Main, based in Cranbury, NJ, offers a unique combination of product development, merchandising and global sourcing across a family of brands and distributes these products to national, regional and independent hardware stores. World and Main's owned brands include Comfort Zone(TM) portable fans and heaters, Bright-Way(TM) electrical supplies, Helping Hand(TM) housewares, PXpro(TM) paint tools, WordLock(TM) locks, and AquaPlumb(TM) faucets and repair parts. The Shur-Line and Bulldog businesses are leading providers of branded and private label Do-It-Yourself, home improvement products for regional and national retailers, and independent hardware stores. Shur-Line's manufacturing expertise will be brought to bear across World and Main's broad supplier network to achieve even greater quality and efficiencies. Each of these businesses has long-term customer relationships fostered through a track record of category expertise, innovation and excellent quality/value.
"We are excited to have Mark Rostagno and the very strong management team he has created at Shur-Line/Bulldog for the acquisition of World and Main. We believe his strong operational focus will enable us to add real value to the World and Main business. Equally, we believe we are acquiring a solid business with strong, long-standing customer relationships and talented managers. It is a great combination," said David Williamson, Founder, Chairman & Managing Partner, Nova Capital Management.
"We are pleased to close on this strategic merger for our two companies that enabled us to combine a great company like World and Main with our original investment in the Shur-Line and Bulldog businesses and brands," said Jan Kreminski, partner, Nova. "As a result, the combined companies will benefit from a complementary brand portfolio, an expanded product offering, broader distribution and customer access, sophisticated sourcing through a large global network of manufacturers, an experienced management team and attractive synergies."
"The merger of World and Main with the Shur-Line and Bulldog businesses will allow us to accelerate our strategic growth plans by leveraging the combined companies' sourcing, manufacturing and logistic capabilities and broad customer reach. We look forward to providing our valued customers with an expanded product offering and innovative new products while continuing to deliver the high level of quality and service they require and have come to expect," stated Mark Rostagno, CEO of the combined companies.
About World and Main
World and Main, LLC is headquartered in Cranbury, New Jersey, with locations in Chicago, Illinois, and Wuxi, China, and stocks and sells over 14,000 SKUs across 15 product categories. This broad basket of products, coupled with World & Main's exceptional distribution capabilities enables the company to deliver on its value proposition: Delivering Simplicity. Facilitating Success. For more information, visit worldandmain.com.
About Shur-Line Paint
Shur-Line, founded in 1945, designs and manufactures a full line of innovative paint application and paint-project related products for do-it-yourself consumers. Focusing on consumer-driven innovation, Shur-Line develops products that make painting easier, faster and fun. Shur-Line offers a full product line of roller covers, brushes, paint trays, poles, frames, surface prep and edging tools. Shur-Line is committed to launching a steady stream of new products specially designed with the Do-It-Yourself consumer in mind. The corporate office and manufacturing facility are located in St. Francis, Wisconsin. For more information, visit shurline.com.
About Bulldog Hardware
For over 135 years, Bulldog Hardware has been developing fastening products to make Do-It-Yourself projects easier, always delivering professional-looking results. Bulldog Hardware products are strong and reliable with a proven track record of innovation. The product offering includes picture hanging accessories, anchors and specialty fasteners, basic home-improvement hardware such as nuts, bolts and screws and organizational tools for the home. Today, Bulldog Hardware is a major, diversified brand in the convenience hardware category, and its products can be found in many major retailers throughout the country. For more information, visit bulldoghardware.com.
About Nova Capital Management
Nova is a pioneer in portfolio buy-outs, specializing in acquiring multiple businesses in a single transaction from corporate or financial sellers. Since its foundation in 2002, Nova has executed international transactions with a value of over $1.7bn from our offices in Chicago and London. Nova acquired both Shur-Line and Bulldog in 2013 as part of a portfolio of hardware businesses acquired from Newell in a $220m+ transaction. Since then Nova has helped transform the two companies through the recruitment of new management teams led by Mark Rostagno, supporting increased investment in sales, marketing and NPD resources and now through the acquisition of World and Main.
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SOURCE World and Main, LLC
