Harbour Group sells Top Knobs to Jordan Co: source

Jordan Co has acquired Top Knobs from Harbour Group, according to a source familiar with the situation and a Federal Trade Commission filing.

Financial terms weren’t available. The deal closed April 4, the source said.

Hillsborough, New Jersey-based Top Knobs makes decorative hardware, including knobs and pulls, for the professional market. In November 2014, Top Knobs bought Atlas Homewares, which sells decorative hardware products such as cabinet knobs, cabinet pulls and bath accessories.

News of the deal first appeared on the FTC website on March 25. Antares Capital is providing a $224 million loan to back Jordan’s purchase of Top Knobs, an April 5 statement said.

Jordan Co, of New York, is a middle-market private equity firm that invests in sectors including business services, manufacturing, consumer products, distribution and industrial products.

Jordan is using its third fund, which raised $3.2 billion in 2014, to buy Top Knobs, the source and FTC filing said. Performance data for Resolute Fund III LP was not available.

The deal represents an eight-year hold for Harbour Group. The operating company, which is headquartered in St. Louis, acquired Top Knobs in March 2008, according to a statement from that time.

The investment came from Harbour’s fifth fund, which collected $500 million in 2007, the FTC filing said.

Harbour in 2012 did fundraise for its sixth pool, which had a $650 million target, Buyouts Insider reported. UPDATE: Harbour Fund VI collected $672 million in 2013, said a spokesman, who declined further comment. The firm had raised $535.5 million for Fund VI in June 2013, according to an SEC filing.

Executives for Jordan declined comment. Top Knobs could not be reached for comment.

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