UltraHardware Management Purchases Company from Parent

January 5th, 2009 by Editor

The management of Ultra Hardware Products LLC in Pennsauken, N.J., has completed a buy-out of the business from its parent company, Shapes/Arch Holdings LLC. The amount of the transaction, which closed December 31, were not disclosed.

Ultra Hardware president Daniel Carpey led the buy-out, with the assistance of Dajalis Ltd. of Montreal, Canada, a private investment firm owned by Harvey Blatt, and Wells Fargo Business Credit, which provided the credit facility to secure the transaction.

“This is something that I have wanted to do for years, and I am happy for our employees, vendors and customers that it has finally happened,” Carpey says. “Ultra Hardware Products has endured a lot this past year, but our team has been able to sustain itself through the storm, not lose market share and, best of all, secure new business for our future.”

He adds, “The economy continues to be a concern for the home improvement, renovations and new construction industries that Ultra Hardware Products services, but our diverse customer base and product lines place Ultra Hardware Products on solid ground.”

Ultra Hardware Products will continue to operate out of its headquarters facility in Pennsauken.

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