Hillman Group, Inc.

James P. Waters began his rein as CEO of Cincinnati-based The Hillman Group this week. He replaces Max "Mick" Hillman, who retired as CEO after 44 years with the company.

Hillman will retain a seat on the board of directors.

Waters was promoted from his post as executive VP and chief operating officer. He joined Hillman as CFO in 1999. During his tenure, Hillman made its largest acquisition to date, H. Paulin & Co., bringing significant market presence in Canada.

The adjustable barrel bolts and slide bolts will see an increased presence in North America.

Cincinnati-based The Hillman Group promoted Rob Lackman to the post of executive VP global operations.

Lackman joined the company in November 2010 as senior VP operations.

He previously worked for Hillman from 1988 to 1995 before leaving to gain extensive and very valuable operations and supply chain experience with Xpedx, Broder Brothers and Duro Bag Manufacturing.

The Hillman Group has announced the acquisition of TagWorks, a pet ID tag program, for $40 million in cash plus an additional consideration of $12.5 million on Oct. 31, 2011. TagWorks is responsible for paying $18.5 million in outstanding debt and transaction fees from the proceeds. The deal closed on March 16. 

Cincinnati-based The Hillman Group purchased East Moline, Ill.-based Servalite, distributor of residential fasteners and related products and said it will promote the Servalite brand as Hillman's "premium line of refillable assortments and electrical parts."

Servalite was founded in 1979 by Tom and Jennifer Rowe, who will remain in their current roles with Servalite. Annual revenues in 2009 were more than $20 million, according to the release announcing the acquisition. Terms of the deal were not disclosed.