Harris Williams & Co. Advises NESCO in its Sale to Platinum Equity
Harris Williams & Co., premier middle market investment bank, announces the sale of NESCO, LLC, a portfolio company of Hammond, Kennedy, Whitney & Company, Inc. (HKW), to Platinum Equity (Platinum). Harris Williams & Co. acted as the exclusive financial advisor to NESCO. The transaction was led by Drew Spitzer and Matt White from the firm’s Energy & Power (E&P) Group along with Ned Valentine and Corey Benjamin.
Headquartered in Bluffton, IN, NESCO is the leading provider of fleet equipment sales, rental and service primarily for the electric transmission and distribution (T&D) industry. The company offers bucket trucks, digger derricks, boom trucks, line tensioners, and a variety of other equipment utilized by specialty contractors and utilities to repair, maintain, and install electric T&D infrastructure.
“We are very proud to have represented NESCO and HKW in this transaction,” said Drew Spitzer, a managing director and co-head of Harris Williams & Co.’s E&P Group. “North American electric T&D infrastructure has suffered from systematic underinvestment for decades. NESCO’s industry expertise and leading fleet of specialized equipment position the company to capitalize on substantial long-term sector investment.”
HKW is a private equity firm founded in 1903 and headquartered in Indianapolis, IN with an office in New York. Over the past 29 years, HKW has sponsored 39 platform management buyouts of small middle market companies throughout North America as well as 38 add-on acquisitions.
Platinum is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum has completed more than 125 acquisitions.