Harris Williams & Co. Advises Herndon Aerospace & Defense on its Sale to KLX, Inc.

May 17, 2016

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the sale of Herndon Aerospace & Defense, a portfolio company of HCI Equity Partners, to KLX, Inc. (KLX; NASDAQ: KLXI). Harris Williams & Co. served as the exclusive financial advisor to Herndon Aerospace & Defense, a leading defense and commercial aerospace supply chain management and consumable hardware distribution platform. The transaction was led by Chris Rogers, Doug Kinard and David Jones from Harris Williams & Co.’s Aerospace, Defense & Government Services (ADG) Group.

Herndon Aerospace & Defense, headquartered in O’Fallon, Missouri, is a leading supply chain management and consumables hardware distributor serving principally military depot aftermarket customers, as well as commercial aerospace aftermarket customers.  

HCI Equity Partners is a strategically focused private equity firm with a long-standing history of PE investing that targets growth oriented industrial product and service companies in the middle market. The members of the firm partner with owners and managers with a focus on assisting with operational improvements and supporting growth initiatives (seven of HCI Equity Partners’ nine principals have been CEO, President or CFO of an industrial business during their careers). The firm has offices in Washington, D.C., Minneapolis, Minnesota and Chicago, Illinois.

KLX, through its two operating segments, provides mission critical products and complex logistical solutions to support its customers’ high value assets. KLX serves its customers in demanding environments that face high cost of downtime and require dependable, high quality just-in-time customer support. The Aerospace Solutions Group is the world’s leading distributor and value added service provider of aerospace fasteners and consumables offering the broadest range of aerospace hardware and consumables and inventory management services worldwide. The Energy Services Group provides vital services and products to the oil and gas industry on an episodic, 24/7 basis. KLX is headquartered in Wellington, Florida.

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 ADG Group offers strategic advice to a global base of leading aerospace, defense and government services clients. For more information on the ADG Group and other recent transactions, visit the ADG 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.