Hillman Solutions reported a record 4Q sales growth, while its Canada and Robotics & Digital sales showed a continued sales decline in 2024.
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The company proposed a $95 million facility adjacent to its current corporate headquarters just north of Cincinnati.
Hillman Solutions reported a slight dip in 3Q sales but saw considerably improved margins.
Company veteran Jon Michael Adinolfi will become the fastener distributor's President and CEO on Jan. 1, 2025.
Hilman promotes John Micheal Adinolfi to CEO, effective Jan. 1 of next year.
The fasteners and industrial supplies distributor's 1Q acquisition of Koch Industries helped drive top-line sales growth.
In 2023, the distributor paid down $160 million of debt and reduced inventory by $100 million while maintaining fill rates above 94%.
Hillman's recent entrance into rope and chain will further embed the distributor with its blue-chip customers.
The company posted 3Q year-over-year sales growth of 5.4%, an impressive rebound from the 3.6% decline seen in 2Q.
Net sales in 2Q 2023 decreased 3.6% to $380.0 million, compared to $394.1 million in the prior-year quarter.
Cincinnati-based hardware manufacturer and distributor Hillman Solutions promoted Jon Michael Adinolfi to Chief Operating Officer.
Hillman announced three promotions within its executive leadership team.
Since CCMP’s initial investment in Hillman in 2014, sales have doubled to approximately $1.5 billion in 2022.
The distribution center was relocated from Rialto, California, to the Kansas City area to reach customers faster, the company said.
Net sales for 2022 increased 4.2% to $1.49 billion, compared with $1.43 billion in the prior-year period, Hillman reported.
The Cincinnati-based supplier of complete hardware solutions is building a 450,000-square-foot facility in the city of Shannon.
Supplier of complete hardware solutions will unveil ‘state-of-the-art’ distribution center along with the creation of 50 new jobs.
