Hillman Solutions Corp. (NASDAQ: HLMN)

Hillman Solutions Corp. is one of the largest providers of hardware related products and related merchandising services to retail markets in North America. The company supplies thousands of small parts such as fasteners, threaded rod, metal shapes, keys, builder's hardware, personal protective equipment, rope and chain, and identification items like tags, letters, numbers, and signs to hardware stores, home centers, mass merchants, pet supply stores, grocery stores, and drug stores. In addition to product sales, Hillman Solutions Corp. offers design and installation of merchandising systems, maintenance of appropriate in store inventory levels, and break fix support for its robotics kiosks.

Hillman Solutions Corp. generates revenue primarily through the sale of its extensive product portfolio and the provision of value added services to retail customers. Product sales include fasteners such as nuts, bolts, screws, washers, and specialty items; threaded rod and metal shapes; keys and key duplication systems; builder's hardware including hinges, door stops, and decorative hardware; personal protective equipment like gloves, eye-wear, and safety vests; rope, chain, and related hardware; and identification items such as tags, letters, numbers, and signs. The company also earns revenue from designing and installing merchandising displays, maintaining in stock inventory levels, and providing repair and maintenance services for its robotic key duplication and engraving kiosks. These offerings are delivered to a broad base of retailers ranging from national chains to independent hardware stores.

Hillman Solutions Corp. operates through the following segments: Hardware and Protective Solutions, Robotics and Digital Solutions.

• Hardware and Protective Solutions: This segment includes fasteners, builder's hardware, wall hanging products, threaded rod and metal shapes, rope and chain, letters numbers and signs, and personal protective equipment such as gloves and eye-wear. The segment serves retail outlets by providing product assortments, merchandising support, and inventory management services, and generated approximately $1,194.0 million in revenue for the year ended December 27, 2025.

• Robotics and Digital Solutions: This segment focuses on software enabled robotic key duplication and engraving systems, including self service kiosks and store associate assisted devices, along with related software, keys, and key fobs. The segment provides product and category management, merchandising services, and access to proprietary platforms, and generated approximately $220.2 million in revenue for the year ended December 27, 2025.

Hillman Solutions Corp. holds a leading position in the hardware products market in North America, competing with firms such as Primesource Building Products, Midwest Fastener Corporation, Illinois Tool Works Inc., and Spectrum Brands. The company's competitive advantages stem from its high level of customer service, product innovation, and in store merchandising support, which together create barriers to entry and strengthen relationships with major retailers.

Hillman Solutions Corp. sells its products to a diverse customer base that includes national chains such as Home Depot, Lowe's, Tractor Supply, Walmart, Menard's, PETCO, and PetSmart, as well as franchise and independent retail outlets that are often members of purchasing cooperatives like Ace Hardware and Do It Best Corp. For the year ended December 27, 2025, Home Depot represented approximately $349.9 million or 22.5% of total revenue and Lowe's represented approximately $324.4 million or 20.9% of total revenue, with no other single customer exceeding 10% of revenue.