RICHMOND, Va.--(BUSINESS WIRE)--
Williams & Co., a preeminent middle market investment bank
focused on the advisory needs of clients worldwide, announces the sale
of BECO Holding Company, Inc. (BHC), a wholesale distributor of fire
equipment and related parts and portfolio company of Freeman Spogli &
Co., to Behrman Capital. The transaction, which closed on August 29,
2014, was led by Bob
Kennedy, and Marshall
Croft from the firm’s Specialty
“This is the second time we have had the pleasure of working with the
BHC management team and we are excited they are returning to partner
with Behrman Capital. The team was able to accomplish a tremendous
amount during its partnership with Freeman Spogli and is well positioned
as they move forward with Behrman Capital,” said Bob Baltimore, managing
director in Harris Williams & Co.’s Specialty Distribution Group.
“The company has exhibited an impressive track record of growth, and we
wish CEO Eric Smith and the team continued success,” added David
Kennedy, a director in the firm’s Specialty Distribution Group.
Founded in 1941, BHC is the country’s leading business to business
wholesale distributor of fire equipment and related parts. With 18
locations across the United States, BHC’s customers have access to an
inventory of more than 6,200 items often on a next day basis.
Freeman Spogli is a private equity firm dedicated exclusively to
investing and partnering with management in consumer-related and
distribution companies in the United States. Since its founding in 1983,
Freeman Spogli has invested $3.3 billion of equity in 50 portfolio
companies with aggregate transaction values of $20 billion. Freeman
Spogli has offices in Los Angeles and New York.
Based in New York and San Francisco, Behrman Capital was founded in
1991. The firm invests in management buyouts, leveraged buildups and
recapitalizations of established growth businesses. The company’s
investments are primarily focused in four industries: healthcare,
specialty manufacturing, business to business outsourcing, and defense.
The firm has raised five funds with a combined capital base in excess of
Harris Williams & Co. (www.harriswilliams.com),
a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a
preeminent middle market investment bank focused on the advisory needs
of clients worldwide. The firm has deep industry knowledge, global
transaction expertise and an unwavering commitment to excellence. Harris
Williams & Co. provides sell-side and acquisition advisory,
restructuring advisory, board advisory, private placements and capital
markets advisory services.
Harris Williams & Co.’s Specialty Distribution Group has experience
across a variety of sectors, including branch-based distributors;
specialty catalog and direct marketing; consumer; industrial, MRO and
safety; automotive and heavy duty aftermarket; building and construction
products; healthcare; technology; electrical and communications;
alcohol, tobacco and fire arms; and environmental services. For more
information on the firm’s Specialty Distribution Group, visit the Specialty
Distribution Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a
registered broker-dealer and member of FINRA and SIPC, and Harris
Williams & Co. Ltd, which is authorized and regulated by the Financial
Conduct Authority. Harris Williams & Co. is a trade name under which
Harris Williams LLC and Harris Williams & Co. Ltd conduct business.
For media inquiries, please contact Katie Hurst, associate brand
manager, at +1 (804) 648-0072.
Harris Williams & Co.
Katie Hurst, associate brand manager
Source: Harris Williams & Co.