What We’re Doing

IFMA World Workplace Conference

On October 3rd, Harris Williams’ Business Services Team attended the IFMA World Workplace Conference in Charlotte, North Carolina. In attendance were leading facilities management companies exhibiting their latest products and services. The event provided Harris Williams with the opportunity to remain in touch with the cutting edge of facility management solutions and continue to advise our clients from a current and knowledgeable standpoint.

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Transaction Spotlight

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Harris Williams served as the sell side advisor for Restaurant Technologies, a leading provider of automated kitchen solutions, on its sale to West Street Capital Partners, a buyout fund run by Goldman Sachs.

The transaction closed October 1st, 2018, and further strengthens Harris Williams’ momentum in the facility services space.

Press release here

 

What We’re Reading

Mitie to Sell Pest Control Business as Part of Restructuring

picture1_36.png"British outsourcing firm Mitie Group Plc announced it would sell its pest control business to Rentokil Initial Plc, as it looks to focus on its core businesses as part of a restructuring. The company, which provides cleaning, security and healthcare services, has been restructuring after a string of profit warnings, which it has blamed on rising costs and Brexit uncertainty."

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Dwyer Group Acquires Mosquito Joe

picture1_37.png"Dwyer Franchising, LLC ("Dwyer Group"), one of the world's largest parent companies of home service franchised brands, acquired Mosquito Joe, the leading franchisor in the mosquito control services industry based in Virginia Beach, Va. “We think their service combined with their professionalism and high customer satisfaction marks are the perfect fit for Dwyer Group and our Neighborly offering," said Mike Bidwell, President and CEO of Dwyer Group. "Mosquito Joe is a market leader in this space, and we look forward to continuing to support its growth.""

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PE-Owned Jensen Hughes Buys Jeremy Gardner Associates

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"Jensen Hughes, the global leader in safety, security and risk-based engineering and consulting, acquired Jeremy Gardner Associates Ltd. (JGA), a leading UK and Ireland-based fire safety consulting firm. “The JGA team brings exceptional technical expertise and client focus, which truly helps Jensen Hughes build global recognition as a world-class company,” said Paul Orzeske, CEO, Jenson Hughes. “We are excited to join forces with JGA. They share a similar culture and mindset around safety, security and risk mitigation for their clients, and we look forward to bringing additional fire and life safety-related capabilities to the UK and Ireland in the coming years.""

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Public Comparables - Market Performance

Public Comparables 5-Year Price Index ('13-'18)*

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Public Comparables TEV/LTM EBITDA ('13-'18)*

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* As of  September 28, 2018.

Public Comparables - Index

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Information included in this industry update was sourced from Factset

 

The information and views contained in this report were prepared by Harris Williams LLC (“Harris Williams”). It is not a research report, as such term is defined by applicable law and regulations, and is provided for informational purposes only. It is not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any securities or financial instruments or to participate in any particular trading strategy. The information contained herein is believed by Harris Williams to be reliable but Harris Williams makes no representation as to the accuracy or completeness of such information. Harris Williams and/or its affiliates may be market makers or specialists in, act as advisers or lenders to, have positions in and effect transactions in securities of companies mentioned herein and also may provide, may have provided, or may seek to provide investment banking services for those companies. In addition, Harris Williams and/or its affiliates or their respective officers, directors and employees may hold long or short positions in the securities, options thereon or other related financial products of companies discussed herein. Opinions, estimates and projections in this report constitute Harris Williams’ judgment and are subject to change without notice. The securities and financial instruments discussed in this report may not be suitable for all investors and investors must make their own investment decisions using their own independent advisors as they believe necessary and based upon their specific financial situations and investment objectives. Also, past performance is not necessarily indicative of future results. No part of this material may be copied or duplicated in any form or by any means, or redistributed, without Harris Williams’ prior written consent.

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.