Industry: Capital Equipment; Packaging
Date of Acquisition: August 2001
Location: Plymouth, Minnesota
Website: www.hamerinc.com
Hamer, LLC is an innovative packaging equipment manufacturer serving several niche markets. Founded in 1927 and located in Plymouth, Minnesota, the Company is the leading maker of form, fill and seal equipment serving packaged-ice manufacturers and distributors; separately, the Company has a rapidly-developing presence in several lawn & garden niche markets, as well as a long history serving vegetable produce packagers. Hamer’s strengths include exemplary customer service and continual product innovation both of which have aided its customers in increasing their plant automation and improving their packaging operation efficiency. The Company is poised to grow through entry of new markets and greater penetration of its existing ones.
Hanover Partners teamed with the Company’s president to purchase Hamer from its retiring owner. Building on Hamer’s vast industry experience and strong reputation in automated packaging equipment, the Company implemented a multifaceted strategic growth initiative focused on expanding Hamer’s sales channels, product lines and manufacturing capacity.
In 2015, after 15 years of ownership, Hanover sold Hamer to Duravant a leading, global manufacturer of engineered equipment serving the food processing, packaging, and material handling industries. Duravant is a portfolio company of Odyssey Investment Partners, LLC. The exit from Hamer generated net returns of 7.2 times cash-on-cash/39% IRR over a fourteen-year hold period, covering multiple economic cycles.