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Locks and Security News: your weekly locks and security industry newsletter
17th April 2024 Issue no. 701

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Lockmasters acquires JLM Wholesale

* Lockmasters-JLM.jpgLockmasters, a portfolio company of Dominus Capital, has acquired JLM Wholesale, the well-known speciality wholesale distributor of commercial door hardware and security solutions.

Selling primarily into the commercial glass and glazing market, JLM serves door and hardware distributors, security integrators, and glass and glazing contractors, providing technical solutions for products from industry-leading manufacturers.

Lockmasters is a leading provider of proprietary products, educational training and distribution of third-party combination locks, tools and hardware to the US Government and security professional industry. This acquisition marks the third add-on for Lockmasters under Dominus' ownership - and the most transformative thus far.

"We are excited to welcome JLM into the Lockmasters Family," says Joe McCormack, Lockmasters' CEO. "JLM has differentiated itself in the market and is positioned for continued growth and success.

"The acquisition of JLM is aligned with Lockmasters' strategic priorities in several ways. First, it expands our distribution footprint with three additional locations, allowing each of us to serve our mutual customers faster and more efficiently. Second, JLM's comprehensive portfolio of commercial hardware and security products and solutions are complementary to and bolster what Lockmasters sells today. Finally, JLM accelerates our talent acquisition strategy with the addition of an experienced JLM team that is committed to providing the same level of exceptional service that we strive for at Lockmasters.

"We look forward to capturing the meaningful upside opportunities that lie ahead in partnership with the JLM team."

Annette Baldwin, former CEO and majority owner of JLM prior to its sale to Lockmasters, explains that her husband, Ray Baldwin, along with her mother, Janet Mirku, founded and built JLM - saying it will always have its roots in the Mirku and Baldwin families.

"We were thoughtful about finding the right caretaker for JLM and believe it landed in the right hands with Lockmasters and Dominus. Their vision for JLM entails not only retaining all current employees and maintaining JLM's culture but growing and adding more staff, which is exactly what we had hoped for in the next owner."

Jim Lee, president of JLM, believes that the combination with Lockmasters will strengthen relationships with JLM suppliers, where there is currently a significant overlap, and that both will be able to deepen and expand their relationships across their similar door hardware and security customers. He feels it will also enhance the reach of each business with its customers and increase shipping speed by expanding distribution coverage. There are plans to further increase the national footprint together in the near future.

Bob Haswell, founding partner at Dominus Capital says:

"The addition of JLM to Lockmasters is part of our buy and build strategy. We are pleased to be chosen by the founders as the trusted caretaker of these leading businesses and look forward to assisting them with their next phase of growth. We are excited to work with JLM management to achieve similar success with Lockmasters."

Since 1955, Lockmasters has been providing the highest quality locks, tools, hardware & education to the government and security professional industry. It is a leading supplier of combination and safe deposit locks in the US. It is more than a lock company though, offering extensive product lines and educational training to a range of security professionals including automotive, banking, commercial, government, industrial and safe. To better assist Lockmasters commercial and industrial security customers, the company began offering stand-alone access control and door hardware lines, which continue to grow.

As well as being a distributor for a wide range of quality locks and tools, Lockmasters is also a manufacturer of a wide variety of tools & locks, including Magnum Drill Rigs, Tech-Train Automotive Tools and the LockOne LKM10K high security life safety exit devices. It has what it says is the premier educational facility in the security industry, providing training and certification to both new and experienced security professionals. Its world-class curriculum features hands-on learning taught by recognised authors, inventors, and industrial security professionals.

www.lockmasters.com | www.dominuscap.com

14th February 2024

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