Harris Williams & Co. Advises Shermco Industries, Inc. on its Sale to Gryphon Investors

June 5, 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 Shermco Industries, Inc. (Shermco), a portfolio company of funds managed by the GFI Energy Group of Oaktree Capital Management, L.P. (Oaktree), to Gryphon Investors (Gryphon). Shermco is a leading provider of testing, commissioning, maintenance and repair of electrical equipment and power distribution systems. The transaction was led by Drew Spitzer, Matt White, Luke Semple, Ian Thomas and Michael Drummond of Harris Williams & Co.’s Energy, Power & Infrastructure (EPI) Group.

“Shermco is widely recognized as an industry leader with best-in-class technical capabilities, an unmatched service breadth and reputation for safety and quality,” said Drew Spitzer, a managing director at Harris Williams & Co. “The company is uniquely positioned to capitalize on increasing demand for safe, efficient and reliable electrical systems across a large installed base of aging infrastructure, and we are thrilled to have represented the company’s shareholders and management on this transaction.”

“Attractive tailwinds across diverse end markets and increasing investments in grid modernization are expected to continue driving demand for high-quality outsourced service providers of scale,” said Matt White, a managing director at Harris Williams & Co. “Shermco is poised to accelerate growth across its core testing, maintenance and repair services, and we look forward to following the company’s future success.” 

Shermco is a leading independent provider of safe and reliable acceptance testing, commissioning, maintenance and repair of electrical equipment and power distribution systems. With service centers located throughout North America, Shermco’s certified technicians and engineers deliver technical solutions for premier customers across utility, industrial, commercial, data center and other diverse end markets. Shermco, a leader in electrical safety and technical training, focuses on industrial electrical contracting, power infrastructure, wind turbine maintenance and disaster recovery services.

Oaktree is a leader among global investment managers specializing in alternative investments, with $121 billion in assets under management. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 900 employees and offices in 18 cities worldwide.

Based in San Francisco, Gryphon is a leading private equity firm focused on profitably growing and competitively enhancing middle market companies in partnership with experienced management teams. Managing over $2.5 billion of equity investments and capital since 1997, Gryphon prioritizes investment opportunities where it can form proactive partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resource and operational expertise.

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 EPI Group has experience across a broad range of sectors, including industrial and infrastructure services, oil and gas equipment and services, energy efficiency and clean tech, power products and technology, engineering and construction and environmental services. For more information on the firm’s energy, power and infrastructure experience, please visit the EPI 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.