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Hillman Group In Talks With Tilman Fertitta SPAC: Bloomberg

Chris Katje
·1 min read

Tilman Fertitta may be targeting a fastener and home improvement company with the third Landcadia Holdings SPAC.

What Happened: Fertitta’s Landcadia Holdings III Inc (NASDAQ: LCY) is in talks to take Hillman Group public, according to Bloomberg.

Hillman makes fasteners and home improvement products. The company supplies products to over 38,000 companies, including top home improvement retailers Home Depot Inc (NYSE: HD) and Lowe’s Companies Inc (NYSE: LOW).

The deal could value Hillman at over $2 billion. Hillman has been owned by private equity company CCMP since 2014, when it was purchased for $1.5 billion from another private equity company.

Related Link: This Small Cap Stock Could Be A Cheaper Way To Play DoorDash, Uber Eats

Why It’s Important: Fertitta has quickly become an experienced name in the SPAC market. Landcadia Holdings' first SPAC took Waitr Holdings Inc (NASDAQ: WTRH) public in Nov. 2018. The second Fertitta SPAC took Golden Nugget Online Inc (NASDAQ: GNOG) public last month.

Fertitta is also in talks for his restaurant and casino businesses to go public with SPAC Fast Acquisition Corp (NYSE: FST), according to Bloomberg.

Price Action: Shares of Landcadia Holdings III traded higher on the rumor and were halted briefly on Friday. Shares closed at $10.69 Friday.

Photo courtesy Pexels./p>  

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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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