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EX - 99.1 2 tm2115958d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 THE HILLMAN GROUP ™ The Hillman Group Announces Record First Quarter 2021 Results CINCINNATI , May 11 , 2021 -- The Hillman Companies , Inc. ( NYSE - AMEX : HLM.PR ) ( the “ Company ” or “ Hillman ” ) reported today record financial results for the first quarter ended March 27 , 2021 . First Quarter 2021 Results Strong net sales growth of 15.4 % to $ 341.3 million as compared to prior year quarter net sales of $ 295.8 million Net loss was $ 9.0 million compared to a prior year quarter net loss of $ 14.8 million Adjusted EBITDA¹ increased 15.2 % to $ 47.8 million compared to $ 41.5 million in the prior year quarter Doug Cahill , Chairman and Chief Executive Officer , stated “ We are very pleased with our first quarter performance , with double - digit sales and profit growth reflecting the strong demand for hardware and home improvement products . This performance demonstrates the strength of the Hillman operating model and all - around exceptional execution by our in - store sales and service and supply chain teams that truly differentiates us in the market place . " Mr. Cahill continued , “ Looking ahead , we are encouraged by the continued strong trends we are seeing at our retail partners in our flagship Hardware Solutions business driven by sustained high levels of repair and remodel activity in the US and Canada . Likewise , we are pleased to see our high margin Robotics and Digital Solutions business quickly rebounding to pre - pandemic levels . Thankfully for all , vaccines have rolled out more quickly and the pandemic has receded faster than anticipated . In turn , demand in Protective Solutions has returned to normalized pre - pandemic levels sooner than expected and we are working together with our retail partners to transition away from pandemic specific PPE products . Fortunately , the remainder of our businesses is running ahead of our expectations and we are optimistic that this will endure . We will continue to focus on driving growth and investing both organically and through accretive M & A for long - term profitable growth and value creation . " ( 1 ) Adjusted EBITDA is a non - GAAP financial measure . Refer to the " Non - GAAP Financial Measures ” section of this press release for additional information as well as reconciliations between the company's GAAP and non - GAAP financial results . Liquidity and Capital Resources At the end of the first quarter 2021 , the Company had $ 13.9 million of cash and had $ 1,594.9 million of total debt outstanding , and $ 104.1 million of availability under its revolving credit facility . In March 2021 the Company successfully completed the syndication of $ 1.185 billion in new term loan commitments in a four times oversubscribed transaction . The term loans will be used in connection with and contingent upon the Company's planned merger with Landcadia Holdings III , Inc. ( “ Landcadia III ” ) , a publicly - traded special purpose acquisition company , to repay all existing outstanding indebtedness . In addition , the financing includes a $ 250 million , five - year asset - based revolving credit facility , also contingent on closing of the merger with Landcadia III . Through the merger , refinancing and related transactions , the Company will simplify its capital structure and substantially lower expected total cash interest costs . Page 1