[Hardware] Rocky’s hardware chain buys nine stores in Ohio

[FazzNoth]

Rocky’s Ace Hardware has purchased a nine-store chain in and around Dayton, Ohio, in a deal that closed today.

Rocky's began in Springfield in 1939, and the acquisition deal is the largest since the hardware retailer purchased eight stores in 1999, doubling in size at that time to 16 locations, according to President Rocco Falcone II.

 

At the end of December, Rocky’s bought the one-location Karp’s Ace Hardware of Stamford, Connecticut.

“We are a growth-oriented company,” he told the Springfield Republican this week. “We have plans for aggressive, comfortable growth.”

Rocky’s now has 47 locations in nine states, and according to Falcone it is one of the country’s largest family-owned Ace Hardware dealerships. Most of its stores are in New England. It has four locations in Florida and one each in New Jersey and Pennsylvania.

"It is very exciting for us to be expanding into a new state and continue the family-owned values and service Handyman customers have come to expect,” Falcone said in a release. “We are also family owned and share many of the same values as Handyman, including putting the customer first in all business actions.”

Falcone’s grandfather started the first Rocky’s location in Springfield in 1926.

Founded in 1939, Handyman is a full-service hardware store with two locations in Dayton and one each in Kettering, Fairborn, Xenia, Springfield, Centerville, Miamisburg and New Carlisle, along with a main office and centralized warehouse. It is owned by David Grimes, whose grandfather also opened the first location, 83 years ago.

 

“Since my grandfather opened our first Rocky’s location in Springfield, Massachusetts in 1926, our team has understood the importance of customer service and serving the communities we are part of," he said. "We are excited to continue the legacy that the Grimes family has created within these neighborhoods. We plant roots in each of our neighborhood locations and intend to maintain this community focus in our Ohio stores. We’re excited to be part of the greater Dayton community.”

Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team led by Managing Director, Mergers & Acquisitions, Jerry Yocum, with the support of Managing Director, Mergers & Acquisitions, Ryan Johnson, successfully closed the transaction. Senior Managing Director Rick Buchoz established the initial relationship with Handyman.

“The transaction was between two longtime associate dealers and friends," Yocum said. "It was a very smooth and pleasant transaction to be involved in."

https://www.bizjournals.com/boston/news/2022/04/08/handyman-ace-hardware-acquisition.html