Harris Williams & Co. Advises Dorner Manufacturing Corporation on its Sale to EQT
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces the sale of Dorner Manufacturing Corporation (Dorner), a portfolio company of Incline Equity Partners (Incline), to the EQT Mid Market U.S. fund. Dorner engages in the design, manufacturing and integration of precision unit conveyor solutions for process automation applications. The transaction was led by Jay Hernandez, Patrick McNulty, Mike Williams and Wayne Harrington of Harris Williams & Co.’s Industrials Group.
“The Dorner team has done a remarkable job of executing the growth strategy that we laid out for our investment period. By successfully expanding into attractive new end markets through product innovation and completing two highly strategic acquisitions, the future is extremely bright for Dorner,” said Wali Bacdayan, partner at Incline. “This was a tremendous outcome for Dorner’s shareholders and management and we are appreciative of the guidance that the Harris Williams & Co. team provided throughout the process.”
“Through its partnership with Incline, Dorner has truly established its position as a global, industry-leading provider of precision conveyor solutions in automation systems,” said Jay Hernandez, a managing director at Harris Williams & Co. “Dorner represents another successful transaction for Harris Williams & Co.’s industrial technology practice. We have seen really strong interest in the process automation sector, particularly for companies such as Dorner that boast differentiated capabilities and are well-positioned to capitalize on the increasing demand for automation.”
Dorner is a leading provider of smart technology precision unit conveyor solutions for process automation applications. Founded in 1966 and based in Hartland, Wisconsin, Dorner is a world leader in the design, applications, manufacturing and integration of precision conveyor systems. Companies from over 1,200 different industries worldwide turn to Dorner to achieve improved efficiency, productivity and a positive ROI.
Incline, headquartered in Pittsburgh, Pennsylvania, is a private equity firm focused on making investments in lower-middle market growth companies, focusing on companies with enterprise values of $50 million to $200 million across a variety of industry sectors including value-added distribution, specialized light manufacturing and business services. Typical investment types are management buyouts, ownership transitions for privately held businesses and corporate divestitures.
EQT is a leading private equity group in Europe with approximately €35 billion in raised capital across 22 funds. EQT funds have portfolio companies in Europe, Asia and the U.S. with total sales of more than €19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
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 Industrials Group has experience across a variety of sectors, including advanced manufacturing; aggregates, metals, and mining; building products; chemicals and specialty materials; industrial technology; and packaging. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials 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 a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd 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.