Harris Williams & Co. Advises Packers Sanitation Services, Inc. in its Sale to Harvest Partners
Harris Williams & Co. announces the sale of Packers Sanitation Services, Inc. (PSSI), a portfolio company of Blue Point Capital Partners (Blue Point), to Harvest Partners. The transaction closed on June 13, 2011. Harris Williams & Co. acted as the exclusive advisor to PSSI. The transaction was led by John Neuner in the firm's Richmond office as well as Glenn Gurtcheff, Tim Alexander, Ryan Budlong, Brant Cash and Lukas Hansen in the firm's Minneapolis office.
"PSSI delivers mission critical services that enable food processors to maximize operational efficiency while meeting strict USDA and FDA food safety guidelines on a daily basis. Management and Blue Point developed a market leading outsourced services platform through organic and acquisition growth. We are pleased to have found a great partner for management that shares their vision for the future, and we look forward to watching the PSSI team's continued success under the stewardship of Harvest Partners," said John Neuner, a managing director at Harris Williams & Co.
"PSSI is an integral partner to many of North America's leading food processors and is poised to continue benefitting from increasingly stringent food safety regulations. The compelling combination of long-term growth fundamentals in the food industry, increasing concerns regarding food safety, and continuing outsourcing trends collectively provide an attractive opportunity to generate sustained organic growth," added Glenn Gurtcheff, a managing director at Harris Williams & Co.
Harris Williams & Co. has been among the most active advisors for middle market companies operating in the food and beverage and business services sectors. The PSSI transaction enabled Harris Williams & Co. to combine its deep industry experience in food and beverage and business services to deliver a great result for its client.
Founded in 1971, PSSI is the leading provider of outsourced cleaning and sanitation services for the food processing industry. PSSI services over 325 facilities on a daily basis through its workforce that includes approximately 10,000 employees.
Blue Point, with offices in Charlotte, Cleveland, Seattle and Shanghai, is one of the largest and most active resident middle market private equity firms in each of its target markets and focuses principally on investments in manufacturing, distribution and service businesses that primarily address commercial and industrial markets. Blue Point's presence in the economies of both the United States and China positions the firm to create value by helping its investee firms to globalize. Blue Point has extensive experience in identifying, evaluating and successfully completing a variety of private equity investment transactions, including recapitalizations, management buyouts, corporate divestitures and industry consolidations. The principals of Blue Point have completed over 100 investments with a total transaction value of more than $2 billion.
Founded in 1981, Harvest Partners is a New York-based private equity investment firm, pursuing management buyouts and growth financings of middle market businesses. Focused on light industrial, consumer/retail and business services businesses, Harvest Partners has over 25 years of experience investing in companies located in North America.