Banner Drives Expansion Strategy with Acquisition
Following its acquisition of the Pacific Northwest‘s leader in locks and hardware, the wholesale division of Builders’ Hardware & Supply Company based in Seattle, Washington in February 2021, Banner Solutions has now announced its acquisition of H.L. Flake Security Hardware, based in Houston. H.L. Flake is one of the largest independent security hardware distributors in the United States, with a strong position in the locksmith market. This acquisition will enable Banner Solutions to further strengthen its offering to that critical customer base.
“H.L. Flake is a company we’ve long admired for their commitment to serving the locksmith customer,” Brendan Deely, president and CEO of Banner Solutions, said. “This represents a tremendous opportunity for Banner Solutions to add a wealth of expertise and history in that critical channel, as well as an assortment of products that more completely service the needs of the locksmith. At the same time, H.L. Flake customers will gain the power of Banner’s industry-leading distribution network.”
“From our beginnings as a bicycle retailer to today, H.L. Flake has now spent 109 years focused on our customers,” said Mark D. Knight, CEO of H.L. Flake. “By becoming part of Banner Solutions, we have the opportunity to expand our product offering and distribution network to serve our locksmith customers better than ever. We’re proud to join a company that has that same commitment to taking care of its customers.”
This acquisition marks Banner Solutions’ seventh as a platform and second under Tailwind Capital.
H.L. Flake Security Hardware will be integrated into Banner Solutions throughout 2021 to ensure minimal disruption for customers; H.L. Flake customers will continue to deal with the same team they have grown accustomed to throughout the years.