Hopkins Announces the Acquisition of Mallory
EMPORIA, KS. August 5, 2013 – Hopkins Manufacturing Corporation announced that it has acquired Mallory. Founded in 1891, Mallory is the leading Canadian provider of winter snow tools and the North American leader in automotive window squeegees. The combination of the Mallory snow tools with the Hopkins’ SubZero® brand of ice and snow tools represents the most comprehensive assortment available in North America today.
“Combining Hopkins as the winter tool leader in the United States and Mallory as the leader in Canada, allows us to service both the U.S. and Canadian markets with the most comprehensive line of products available,” said Bradley T. Kraft, President and Chief Executive Officer of Hopkins. “In addition, Mallory’s market-leading branded line of squeegees significantly expands our presence in this product category,” added Mr. Kraft.
“We’re very excited that Hopkins will continue the heritage of Mallory long into the future,” said John Mallory, President of Mallory. “Hopkins has an outstanding reputation in the industry and we could not think of a better partner to ensure the future for our company.” Mr. Mallory, grandson of the founder, will assist in the transition through the end of 2013.
As part of the acquisition, Hopkins will add manufacturing and distribution facilities in Blenheim, Ontario and South Sioux City, Nebraska. The Blenheim facility will provide new capabilities in Canada to better serve the Canadian market with all Hopkins products.
Recent acquisitions by Hopkins include the fluid management drain pans and ramps of F3 Brands, the non-gas can business of Blitz USA; and Mr. Funnel®, a simple but effective line of portable fuel filters that remove water, dirt and debris from all types of fuels; Hopkins also acquired the TowDaddy® line of towed vehicle wire harness kits earlier this year.
About Hopkins Manufacturing Corporation
Headquartered in Emporia, Kansas, Hopkins is a leading manufacturer and marketer of quality, innovative specialized towing products and functional accessories for the automotive and recreational vehicle aftermarkets. Hopkins markets its products under a number of well-recognized brand names, including: Sub-Zero® Snow & Ice Tools, Carrand™, AutoSpa™ and Pacific Coast™ Vehicle Cleaning Products, Hopkins Towing Solutions® Trailer Wiring & Brake Control Products, Flo-Tool® Fluid Handling Products, BrakeBuddy® RV tow brakes, Go Gear® Mobile Solutions, nVISION® Vehicle Safety Products, Vortex™ High Performance Mud Guards and Juice™ Booster Cables. Celebrating its 60th anniversary in 2013, the company has been guided by the philosophy that its products will deliver meaningful innovation, performance and value to the consumer. Oncap invested in Hopkins in June 2011.
Mallory was founded in 1891 with George W. Mallory’s invention of an ingenious device to keep a screen door closed, which became Mallory Hardware Products Limited. Through innovation and acquisition over the years, Mallory has developed into the market leader in Canada for winter snow and ice tools and the North American leader for automotive window squeegees. Today Mallory consists of Mallory Industries Inc. in Canada and Mallory USA, Inc. in the United States; both companies now become subsidiaries of Hopkins.
ONCAP, in partnership with operating company management teams, invests in and builds shareholder value in North American small and mid-size companies that are leaders in their defined market niche and possess meaningful growth potential. ONCAP is currently investing from its third fund and is the mid-market private equity platform of Onex. With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. In total, Onex has approximately $16 billion of assets under management, including $5 billion of proprietary capital, in private equity, credit securities and real estate.
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