Harris Williams & Co. Advises Smiths Interconnect’s Power Business on its Sale to Dunes Point Capital, LLC

January 26, 2017

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 Smiths Interconnect’s power business, Power Distribution Inc. (PDI), a leading provider of customized power distribution and monitoring solutions for global networks and systems, to Dunes Point Capital, LLC (DPC). Harris Williams & Co. served as the exclusive advisor to PDI, a division of Smiths Group, plc (LON: SMIN; Smiths Group). The transaction was led by Brian Lucas and Drew Spitzer of Harris Williams & Co.’s Energy, Power & Infrastructure (EPI) Group and Jay Hernandez, Mike Williams and Michael Gessner of the firm’s Industrials Group.

“The management team at PDI has done a terrific job building a leading platform renown for delivering highly customized solutions that are critical for controlling and monitoring power distribution throughout datacenter operations,” said Brian Lucas, a managing director in Harris Williams & Co.’s EPI Group. “We greatly enjoyed working with the team and are excited to witness the company’s continued growth through its partnership with DPC.”

“PDI occupies a unique position within the power distribution and monitoring industry and is well-positioned to capitalize on favorable macro trends into the foreseeable future,” said Jay Hernandez, a managing director in Harris Williams & Co.’s Industrials Group. “The company’s compelling value proposition, superior customer service and partnership approach to solving its customers’ most complex control and monitor operations position PDI as a preferred provider in the industry.”

PDI is a provider of customized power distribution and monitoring solutions that ensure power quality is delivered to sensitive IT equipment for critical electrical environments such as data centers, telecoms, medical and defense. For over 35 years, PDI has served the data center and alternative energy markets providing flexible solutions with the widest range of products in the industry.

Smiths Group is a global technology company listed on the London Stock Exchange. A world leader in the practical application of advanced technologies, Smiths Group delivers products and services for the threat and contraband detection, medical devices and energy and communications markets worldwide. Smiths Group employs more than 22,000 people in over 50 countries.

DPC is a family office and private investment firm founded in 2013. Its mission is to build great companies through vision and long-term commitment. It pursues control investments in two verticals: the general industrial sector and the energy products/services sector. DPC pursues a value creation philosophy centered on thesis-driven investing. It seeks opportunities to partner with management teams to drive long-term enterprise value through both differentiated organic growth and operational transformation. The team has invested, or overseen the investment of, over $4 billion in transactions over the last 20 years.

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.

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 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.