Harris Williams & Co. Advises Distribution International, Inc. on its Sale to Advent International
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Distribution International, Inc. (DI), a portfolio company of Audax Private Equity and The CapStreet Group (CapStreet), to Advent International (Advent). DI is a leading distributor of mechanical insulation and related supplies. The transaction was led by Bob Baltimore, Tim Webb, Chris Williams, Marshall Croft and Taylor Morris of Harris Williams & Co.’s Richmond office.
“Audax Private Equity, CapStreet and DI’s management have built an exceptional platform with an industry leading product offering and a demonstrated resiliency across economic cycles,” said Bob Baltimore, a managing director at Harris Williams & Co. “It was an absolute pleasure working with the management team, and we look forward to watching the company’s continued success.”
“Pairing DI’s industry-leading products and services and focus on customer satisfaction with Advent’s extensive distribution experience creates exciting opportunities for the company,” said Tim Webb, a director at Harris Williams & Co.
Founded in 1986, DI is a leading distributor of mechanical insulation and related supplies for maintenance, repair and operations (MRO) in North America. Based in Houston, TX, the company has operations throughout the U.S. and Canada to service thousands of customers across a broad footprint.
Audax Private Equity is a private equity firm with offices in Boston and Menlo Park. The firm manages more than $5 billion of assets across its private equity, mezzanine debt and private senior debt businesses. Audax Private Equity focuses on middle market companies across a wide range of industries.
CapStreet is a private equity firm that invests in growing, lower-middle market companies headquartered in TX and surrounding states. The firm partners with companies to accelerate growth and build long-term value. Founded in 1990, CapStreet is located in Houston, TX.
Founded in 1984, Advent is one of the largest and most experienced global private equity investors. Since inception, the firm has invested in more than 290 companies in 39 countries and today has $34 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 180 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments across five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom. Advent is committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
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.
Harris Williams & Co.’s Specialty Distribution Group has experience across a variety of sectors, including branch-based distributors; specialty catalog and direct marketing; consumer; industrial, MRO and safety; automotive and heavy duty aftermarket; building and construction products; healthcare; technology; electrical and communications; and alcohol, tobacco and fire arms. For more information on the firm’s Specialty Distribution Group, visit the Specialty Distribution Group’s section of the Harris Williams & Co. 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 authorised 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.