Tilman Fertitta might be targeting a fastener and household advancement business with the 3rd Landcadia Holdings SPAC.
What Happened: Fertitta’s Landcadia Holdings III Inc (NASDAQ: LCY) is in talks to acquire Hillman Group community, in accordance to Bloomberg.
Hillman tends to make fasteners and property improvement solutions. The business provides items to over 38,000 businesses, such as prime dwelling advancement shops Home Depot Inc (NYSE: Hd) and Lowe’s Organizations Inc (NYSE: Minimal).
The deal could price Hillman at in excess of $2 billion. Hillman has been owned by non-public fairness enterprise CCMP due to the fact 2014, when it was obtained for $1.5 billion from an additional personal fairness business.
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Why It is Significant: Fertitta has rapidly become an skilled identify in the SPAC market place. Landcadia Holdings’ first SPAC took Waitr Holdings Inc (NASDAQ: WTRH) public in Nov. 2018. The second Fertitta SPAC took Golden Nugget Online Inc (NASDAQ: GNOG) general public final thirty day period.
Fertitta is also in talks for his cafe and casino companies to go public with SPAC Rapid Acquisition Corp (NYSE: FST), in accordance to Bloomberg.
Selling price Action: Shares of Landcadia Holdings III traded larger on the rumor and have been halted briefly on Friday. Shares closed at $10.69 Friday.
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