Harris Williams & Co. Advises Behrman Capital in the sale of BECO Holding Company, Inc. to Freeman Spogli & Co.
Harris Williams & Co. is pleased to announce that BECO Holding Company, Inc. d/b/a Brooks Equipment Company, a portfolio company of Behrman Capital, has been acquired by Freeman Spogli & Co. and management. Behrman Capital gained a return of approximately 5.1x its investment of $42 million for its limited partners. The transaction was led by Hiter Harris, Bob Baltimore and Marshall Croft from the firm's Richmond office.
Brooks Equipment Company is the nation's leading business to business wholesale distributor of first response fire protection equipment and related parts. With 16 locations across the United States, Brooks' customers have access to an inventory of over 17,000 fire equipment and MRO products from over 400 industry-leading manufacturers. Brooks is well regarded for its commitment to customer service and quality products, and has grown both by expanding its offerings and providing technical and educational support to customers. The company was founded in 1941 and is headquartered in Charlotte, North Carolina.
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company's investments are primarily focused in five industries: defense, specialty manufacturing, outsourcing, health care and information technology. The firm currently has a combined capital base in excess of $2.0 billion.
Freeman Spogli & Co. is a private investment firm dedicated exclusively to investing in and partnering with management in retail, direct marketing, distribution, retail services and consumer products companies positioned for growth. Since its founding in 1983, Freeman Spogli has invested approximately $2.6 billion in 43 portfolio companies with aggregate transaction value of $17 billion, and is currently making investments from FS Equity Partners VI, L.P. Freeman Spogli has offices in Los Angeles and New York.