Hillman Group In Talks With Tilman Fertitta SPAC: Bloomberg

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 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 HD and Lowe’s Companies Inc 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.

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

Fertitta is also in talks for his restaurant and casino businesses to go public with SPAC Fast Acquisition Corp 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.

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