PE Tech Report


Like this article?

Sign up to our free newsletter

High Road Capital Partners sells portfolio company Banner Solutions

High Road Capital Partners ( has sold its portfolio company Banner Solutions ( to Tailwind Capital. The sale, which closed on 31 October, 2019, marks the second exit for High Road Capital Partners Fund II.

Kansas City, Missouri-based Banner Solutions is a wholesale distributor of door hardware, electronic access control, and security products primarily for repair, replacement, and renovation applications in the commercial/institutional and residential markets.
High Road acquired Banner, formerly known as Midwest Wholesale Hardware, in February 2017. During High Road’s ownership, the company completed four acquisitions, and revenue and EBITDA more than tripled.
“Our successful investment in Banner Solutions exemplifies High Road’s strategy of building lower-middle-market niche leaders into bigger and qualitatively better companies in partnership with management,” says Ben Schnakenberg, Partner, High Road Capital Partners. “Under CEO Brendan Deely, Banner expanded its geographic reach, product categories, and end markets. Today, the company has a robust management team, twice the number of distribution centers, a larger technical sales force, more sophisticated information systems, and enhanced e-commerce capabilities.”

Brendan Deely, Chief Executive Officer, Banner Solutions, says: “With High Road’s guidance and support, Banner has become a leader in a still fragmented business, distinguished by our close relationships with manufacturers, just-in-time fulfilment capabilities, and outstanding customer service. The company is well positioned for continued growth and success.”
Schnakenberg led the investment for High Road and was assisted by Nicholas Martino, Operating Partner; Scott Rubino, Principal; Tom Cassidy, Senior Associate; and Anthony Tripodoro, Associate. BB&T Capital Markets advised High Road and the company, and Jones Day provided legal counsel. Transaction terms have not been disclosed.
High Road Capital Partners has completed 59 transactions – 20 platform investments, 31 add-on acquisitions, and eight exits – since its founding in 2007.

Like this article? Sign up to our free newsletter