Harris Williams & Co., a middle market investment bank, has announced the sale of NESCO, a portfolio company of private equity firm Hammond, Kennedy, Whitney & Company, to global M&A&O firm Platinum Equity.
Harris Williams & Co., premier middle market investment bank, announces the sale of NESCO, LLC, a portfolio company of Hammond, Kennedy, Whitney & Company, Inc. (HKW), to Platinum Equity (Platinum). Harris Williams & Co. acted as the exclusive financial advisor to NESCO. The transaction was led by Drew Spitzer and Matt White from the firm’s Energy & Power (E&P) Group along with Ned Valentine and Corey Benjamin.
Headquartered in Bluffton, IN, NESCO is the leading provider of fleet equipment sales, rental and service primarily for the electric transmission and distribution (T&D) industry. The company offers bucket trucks, digger derricks, boom trucks, line tensioners, and a variety of other equipment utilized by specialty contractors and utilities to repair, maintain, and install electric T&D infrastructure.
“We are very proud to have represented NESCO and HKW in this transaction,” said Drew Spitzer, a managing director and co-head of Harris Williams & Co.’s E&P Group. “North American electric T&D infrastructure has suffered from systematic underinvestment for decades. NESCO’s industry expertise and leading fleet of specialized equipment position the company to capitalize on substantial long-term sector investment.”
HKW is a private equity firm founded in 1903 and headquartered in Indianapolis, IN with an office in New York. Over the past 29 years, HKW has sponsored 39 platform management buyouts of small middle market companies throughout North America as well as 38 add-on acquisitions.
Platinum is global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum has completed more than 125 acquisitions.
Harris Williams & Co. , a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier middle market advisor with a two-decade legacy of M&A advisory excellence serving clients worldwide. The firm is focused exclusively on the middle market, providing sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
The firm’s Energy & Power Group has experience across a broad range of sectors, including energy efficiency & cleantech, industrial & infrastructure services, oil & gas products and services, power equipment & services, engineering & construction, and environmental services. For more information, please contact Drew Spitzer or Matt White at +1 (804) 648-0072.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, an Appointed Representative of Sturgeon Ventures LLP, which is authorized and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business in the U.S. and Europe, respectively.