Harris Williams & Co. Advises Ryan Herco Flow Solutions on its Sale to SunSource

May 1, 2018

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it advised Ryan Herco Flow Solutions (Ryan Herco), a portfolio company of Greenbriar Equity Group LLC (Greenbriar), on its sale to SunSource, a portfolio company of Clayton, Dubilier & Rice (CD&R). Ryan Herco is a leading national distributor of fluid handling, filtration and flow control products. The transaction was led by Brian Lucas, Graham Gillam and Rob Devlin of Harris Williams & Co.’s Specialty Distribution Group and Giles Tucker of the firm’s Industrials Group.

“The management team at Ryan Herco, through its partnership with Greenbriar, has done a terrific job advancing the company’s position as a leading distributor of high purity and corrosion resistant flow control products and has ensured the business is poised for continued success across the diverse markets it serves,” said Brian Lucas, a managing director at Harris Williams & Co. “This transaction marks another strong outcome for our Specialty Distribution Group and adds to our long track record of success in the sector.”

“Both SunSource and CD&R are exceptional organizations with proven track records of creating long term value and we are excited to see what the future has in store for Ryan Herco as part of the SunSource family,” added Giles Tucker, a managing director at Harris Williams & Co. “This transaction is a continuation of the consolidation trends we are seeing in the motion, filtration and flow control market.”

Ryan Herco is a leading distributor of technical, high value fluid handling, filtration and flow control products to clean manufacturing and process industries. Ryan Herco’s product portfolio, comprised of over 70,000 SKUs, is used primarily in corrosive environments where high purity is critical to the production process or application. Through a nationwide network of distribution centers and a location in Singapore, the company serves over 15,000 active customers in diverse, high growth end markets including industrial, semiconductor, water and wastewater, life sciences, power generation, food and beverage, and other targeted industries.

Greenbriar, a private equity firm with over $2.5 billion of committed capital, focuses exclusively on the global transportation industry, including companies in logistics and distribution, freight and passenger transport, aerospace and defense, automotive and related sectors. Greenbriar invests with proven management teams who are interested in being significant equity owners in their companies as well as with corporate partners who are interested in raising capital. Greenbriar's partners bring many decades of experience at the highest levels within the transportation industry.

Headquartered in Addison, Illinois, SunSource is a value-added distributor of fluid power and motion control technologies in North America. As a technically-focused distributor, SunSource serves as an extension of its customers’ design and engineering teams and the sales force of its suppliers, delivering innovative solutions that lower total costs and streamline supply chains. The company operates through four highly focused strategic business units that provide tailored solutions for the unique needs of its industrial, mobile, service and repair, and process solutions customers.

Founded in 1978, CD&R is a private investment firm. Since inception, CD&R has managed the investment of $25 billion in 78 companies with an aggregate transaction value of more than $100 billion. The firm has offices in New York and London.

Harris Williams & Co. (www.harriswilliams.com), a subsidiary 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 automotive and heavy duty aftermarket; building products; consumer; electrical and communications; foodservice; healthcare; industrial; and technology. For more information on the firm’s Specialty Distribution Group, visit the Specialty Distribution Group’s section of the Harris Williams & Co. website.

Harris Williams & Co.’s Industrials Group has experience across a variety of sectors, including advanced manufacturing; aggregates, metals, and mining; building products; chemicals and specialty materials; industrial technology; and packaging. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials 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 a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd 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.