Harris Williams Advises PowerTeam Services, LLC on its Sale to Clayton Dubilier & Rice
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 PowerTeam Services, LLC (PowerTeam), a portfolio company of Kelso & Company (Kelso), on its sale to Clayton Dubilier & Rice (CD&R). PowerTeam is a leading provider of maintenance and construction services to the U.S. utility industries. The transaction was led by Drew Spitzer, Matt White, Ian Thomas and Neha Shah of Harris Williams’ Energy, Power & Infrastructure (EPI) Group.
PowerTeam provides services to maintain, repair, upgrade and install natural gas and electric distribution and transmission systems. These services are critical to maintaining the safety, reliability and integrity of aging gas and electric infrastructure. The company’s customer base includes leading regulated utilities in the southeastern and midwestern United States, which it serves through a network of 42 locations in 21 states with approximately 4,200 employees. Approximately two-thirds of PowerTeam’s revenue is related to natural gas systems, and more than 70 percent of revenue is derived from distribution infrastructure.
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’ EPI Group has experience across a broad range of sectors, including industrial and infrastructure services, oil and gas equipment and services, energy efficiency and clean tech, power products and technology, engineering and construction and environmental services. For more information on the firm’s energy, power and infrastructure experience, please visit the EPI 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 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 Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams Ltd conduct business.