Harris Williams & Co. Advises Quala on its Sale to Advent International

August 31, 2016

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, advised Quala on its sale to Advent International (Advent). Quala is one of North America’s leading providers of mission critical container cleaning and ancillary services. Harris Williams & Co. served as the sole financial advisor to Quala, a portfolio company of Roark Capital Group (Roark). The transaction was led by Bob Baltimore, Brian Lucas, Luke Semple, Marshall Croft and Taylor Morris of Harris Williams & Co.’s Richmond office.

“Quala is a tremendous company with an outstanding management team and a truly unique culture of safety and reliability. The management team and Quala’s 600 plus employees have done a fantastic job building an industry leader and positioning it for substantial future growth,” said Brian Lucas, managing director at Harris Williams & Co.

"Quala is the latest addition to Harris Williams & Co.'s deep resume in the outsourced facility and industrial services industry," added Bob Baltimore, a managing director at Harris Williams & Co. "Strategic and financial buyers continue to be attracted to business models that deliver critical services with clear value propositions to their customers and market segments."

Headquartered in Tampa, Florida, Quala is North America’s largest independent provider of tank trailer cleaning, ISO container depot services and IBC cleaning, testing and reconditioning services. Quala’s national network of tank wash and waste water treatment facilities is comprised of over 60 locations in the U.S. and Canada providing the widest breadth of tank trailer, intermediate bulk container and ISO container cleaning and maintenance capabilities in the industry.

Roark is an Atlanta-based private equity firm that focuses on consumer and business service companies with a specialization in franchised and multi-unit business models in the retail, restaurant, consumer and business services sectors. Since inception, Roark has acquired 42 franchise/multi-unit brands, which have generated $17 billion in annual system revenues from 20,000 locations in 50 states and 72 countries. Roark's current brands include Anytime Fitness, Arby's, Atkins Nutritionals, Batteries Plus Bulbs, Carl Jr.'s, Corner Bakery, FOCUS Brands (the owner of Auntie Anne's Pretzels, Carvel Ice Cream, Cinnabon, McAlister's Deli, Moe's Southwest Grill and Schlotzsky's), Hardee's, Il Fornaio, Massage Envy, Miller's Ale House, Money Mailer, Pet Valu, Primrose Schools, Waxing the City and Wingstop.

Founded in 1984, Advent is one of the largest and most experienced global private equity investors. The firm has invested in more than 300 private equity transactions in 40 countries and as of March 31, 2016, had $42 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 in five core sectors, including business and financial services, healthcare, industrial, retail, consumer and leisure and technology, media and telecom. After more than 30 years dedicated to international investing, Advent remains 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.

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 authorized 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.