Harris Williams & Co. Advises on the Sale of Horsburgh & Scott GenNx360 Capital Partners
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Horsburgh & Scott (H&S), a leading manufacturer and provider of repair services for custom gears and gear drives used in industrial, mining, power and oil and gas end markets, to GenNx360 Capital Partners (GenNx360). H&S was a portfolio company of Bolder Capital, a partnership between The Edgewater Funds (Edgewater) and JZ Capital Partners Limited (JZCP). Harris Williams & Co. acted as the exclusive advisor to H&S. The transaction closed on March 28, 2013 and was led by John Arendale, Darwin Olympia and Ben Ross from the firm’s Richmond office, and Matt White from the firm’s Energy & Power Group.
“H&S is an impressive platform with a proud history and an excellent management team. The transaction represented a unique opportunity to acquire a niche industrial services platform that differentiates itself through its engineering capabilities,” said John Arendale, a managing director at Harris Williams & Co. “We are excited to see what the future holds for H&S.”
H&S designs, manufactures and provides aftermarket services for highly engineered industrial gears, gear drives and related components. Over the course of its 127-year history, H&S developed a globally recognized brand, blue-chip customer base and a reputation for superior engineering expertise in the marketplace. H&S serves a wide array of end markets such as steel, mining, power generation, sugar, oil and gas, and transportation.
Bolder Capital is a co-investment partnership between Edgewater and JZCP, both of whom have significant experience in acquiring and managing middle market companies. With over $1 billion in capital resources, a team of seasoned operating executives, and a highly experienced investment staff, Edgewater and JZCP have a strong track record of adding substantial value to their portfolio companies and creating wealth for shareholders. Over the last 25 years, Edgewater and JZCP have made more than 400 acquisitions in a wide variety of industries, focusing on niche manufacturing and service companies that are leaders in their markets and where the partnership has expertise.
GenNx360 is a private equity firm focused on investing in industrial business-to-business companies in the middle market. It applies years of Fortune 50 operational and leadership experience to these investments to help drive growth and value creation. The firm primarily focuses on opportunities in the industrial machinery and components, oil and gas, transportation and logistics, agricultural, specialty chemicals and aerospace sectors. GenNx360 was founded in 2006 and is headquartered in New York City, with additional offices in Seattle and Boston.