Harris Williams Advises Wulftec International, Inc. on its Sale to Duravant
Harris Williams, a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it advised Wulftec International, Inc. (Wulftec), on its sale to Duravant, a global engineered equipment and automation solutions provider to the food processing, packaging and material handling sectors. A subsidiary of H.I.G. Europe’s portfolio company Maillis Group (Maillis), Wulftec is a leading provider of end-of-line packaging automation solutions in North America. The transaction was led by Patrick McNulty, Brad Morrison, Ryan Nelson, Jeff Perkins, Lars Friemann, Brandt Carr and Shinik Patel of Harris Williams’ Industrials Group.
“We are thrilled to have worked with H.I.G. Europe and the outstanding management team at Wulftec on this transaction,” said Patrick McNulty, a managing director at Harris Williams. “Furthermore, the successful outcome underscores Harris Williams’ ability to leverage its global execution capabilities and expertise within the packaging and industrial technology sectors.”
“Wulftec’s superior technical capabilities and trusted reputation in the market continue to drive both impressive financial performance and promising opportunities for growth,” said Brad Morrison, a director at Harris Williams. “Wulftec and Duravant are market leaders, and we look forward to following their combined success as they continue growing into the leading automation equipment platform globally.”
With over 200 highly skilled employees, Wulftec designs and manufactures complete end-of-line packaging solutions, including fully- and semi-automatic stretch wrapping and strapping equipment. Founded in 1990, Wulftec is located in Ayer’s Cliff, Quebec and has been owned by Maillis since 2002.
Headquartered in Downers Grove, Illinois, Duravant is a global engineered equipment company with manufacturing, sales and service facilities throughout North America, Europe and Asia. Through their portfolio of operating companies, Duravant delivers trusted end-to-end process solutions for customers and partners through engineering and integration expertise, project management and operational excellence. With worldwide sales distribution and service networks, they provide immediate and lifetime aftermarket support to all the markets they serve in the food processing, packaging and material handling sectors. Duravant’s market-leading brands are synonymous with innovation, durability and reliability. Duravant is a portfolio company of Warburg Pincus LLC.
Harris Williams (www.harriswilliams.com), a subsidiary 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 provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams’ 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 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 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.