XLCS Partners, Inc., a leading middle market investment bank, announced that it served as exclusive advisor to Hi-Q Fasteners (Hi-Q) on its sale to LindFast Solutions Group (LSG), a portfolio company of Nautic Partners.
Based in Santa Fe Springs, California, Hi-Q offers a complete line of sems, thread forming and machine screws (inch, metric, steel, and stainless), in addition to a full line of spacers and standoffs and self-clinching hardware.
Headquartered in Blaine, Minnesota, LSG is the leading high-touch master distributor of specialty fasteners in the North American market and is a vital supply chain partner and superior sourcing solution to a broad base of distribution customers through its several product brands such as Lindstrom, Stelfast, Mega, Solution Industries, and more.
Nautic Partners, a Providence, Rhode Island-based middle-market private equity firm, acquired LSG in 2019 in partnership with management.
“We are excited for the opportunity to learn from Hi-Q and expand their capabilities while they can now leverage the significant supply chain capabilities and distribution network that LSG offers,” said LSG CEO Bill Niketas. “We think this combination is very powerful and will be a benefit for our customers, suppliers, employees, and others.”
“From the initial conversation we knew that Hi-Q and LindFast were a strategic and cultural match,” stated Anthony Contaldo, Partner at XLCS. “The process was very smooth and resulted in a great outcome for all.”
XLCS acted as the exclusive M&A advisor to Hi-Q and the transaction was led by Anthony Contaldo, Partner. The transaction was completed December 27, 2023, and marks the firm’s eighteenth fastener and industrial distribution transaction.
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