Employee-owned Companies Announce Holding Company Formation

News provided by

Jun 03, 2021, 08:47 ET

INDIANAPOLIS, June 3, 2021 /PRNewswire/ -- Central Indiana Hardware, Inc. (CIH) and H & G Sales, Inc. (dba H&G/Schultz Door), both 100% employee-owned distributors of commercial doors, door frames, and architectural hardware, have announced the formation of APTURA Group, Inc. ("APTURA"), an employee-owned holding company. The holding company formation is intended to align the subsidiary's operating assets to their respective markets, increase its operational flexibility, and grow its product and service offerings in the expanded geographical area.

Ron Couch, President and CEO of CIH and CEO of APTURA commented, "We are excited to announce the formation of APTURA. This is the culmination of a vision resulting from a collaboration between our respective companies that began almost three years ago. This platform will allow our customers increased access to products and services across our markets and provide the flexibility needed for the continued growth of APTURA companies, as well as increased opportunities for all of our employees."

"From the very beginning of this process, it was very clear to Ron and I that our values and visions were in alignment," said Jay Manzo, President and CEO of H&G and President of APTURA. "We are very eager and excited to build the next chapter of our businesses together as one company."

Founded in 1951, CIH is a leading distributor of Division 8 commercial door systems, Division 10 accessories and operable partitions, and Division 28 access systems integration headquartered in Indianapolis, IN. In early 2020, CIH acquired Security Door & Hardware Co. in Urbana and Springfield, IL and Security Builders Supply Co. in Oswego and Rockford, IL, distributors of Division 8 and 10 products. This acquisition expanded the CIH Team to over 200 staff members. CIH created its ESOP in 1986 and became 100% employee-owned in early 2020.

Headquartered in Maryland Heights, MO, H&G was established in 1967 as a value-add distributor of Division 8 commercial doors and hardware products to contractors and end-users in the Missouri, southern Illinois and Kansas market areas. In 2004, H&G acquired 78-year-old Schultz Door, adding Automatic entrances, Aluminum Storefronts, Access Control, and Total Opening service to its breadth of offerings. H&G created its ESOP in 1988, became 100% employee-owned in 2015, and currently has 70 employees.

You can watch the official announcement video here.

Mr. Ron Couch [email protected] - 317-643-2788; Mr. Jay Manzo [email protected] –317-643-2788

SOURCE APTURA GROUP