The portfolio includes five home improvement and hardware businesses, Amerock, Ashland, Bulldog, Drapery Hardware and Shur-Line.
Nova investment partner David Jacobs said, “We are thrilled to be acquiring this collection of strong brands, which are well-positioned to grow their respective share and performance based on a history of superior product quality, service and innovation, in combination with long term partnerships in retail, OEM and two-step distribution channels.
“In addition to their strong foundational attributes, these businesses should also benefit from the up-turns in the US housing, home improvement and consumer markets. Our priority is to accelerate the current plans in place to optimize these businesses for future growth through stewardship and appropriate investment.
“The acquisition is another example of Nova’s unique approach to delivering corporations and private sellers a solution for the sale of multiple non-core assets in a single transaction.”
Nova launched a North American headquarters earlier this year and has since added key leadership staff to its team in the US and Canada.
In September 2012 the firm bought five US-based industrial companies, all of which were operating subsidiaries of Latshaw Enterprises, a year after buying five Canadian industrial businesses.
Since its inception in 2002 Nova has acquired or taken over the management of portfolios totalling $1.5bn in value.
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