Harris Williams & Co. Advises United Site Services on its Sale to Calera Capital

August 5, 2014

Harris Williams & Co. Advises United Site Services on its Sale to Calera Capital

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of United Site Services (USS), a leading provider of portable sanitation, temporary fencing, and related site services, to Calera Capital. USS is majority owned by affiliates of GSO Capital Partners, LP (GSO) and Angelo, Gordon & Co. The transaction, which closed on August 5, 2014, was led by Michael Hogan, Ryan Nelson, Marshall Croft, and Taylor Morris in Harris Williams & Co.’s Richmond office.

“USS is a tremendous company with an outstanding management team and a truly unique culture. CEO Ron Carapezzi and team have done a fantastic job transforming the business and positioning it for substantial future growth,” said Michael Hogan, managing director at Harris Williams & Co.

“Management has built an impressive platform with significant scale and deep customer relationships that rely on the company for its high quality and reliable sanitation services,” commented Ryan Nelson, managing director at Harris Williams & Co. “USS will continue to take advantage of its many organic and acquisition-based growth opportunities and benefit from the relevant industry experience of its new partner.”

With more than 50 locations across the United States, USS is the largest provider of portable sanitation, temporary fencing, and related site services. Based in Westborough, MA and founded in 1999, USS serves clients across diverse end markets, including construction, commercial and industrial, special events, government and military, and agriculture. The company has successfully completed over 85 acquisitions since its founding.

GSO, the global credit platform of Blackstone, is one of the largest credit-oriented alternative asset managers in the world and a major participant in leveraged finance. Founded in 2005, GSO seeks to generate attractive risk-adjusted returns across a variety of investment strategies.

Angelo, Gordon & Co. is a privately held alternative investment advisor that was founded in 1988 and currently manages approximately $27 billion in assets. The firm's investment focus centers around three core competencies - credit, real estate, and private equity. Angelo, Gordon & Co. has approximately 300 employees and is headquartered in New York, with associated offices elsewhere in the US, Europe, and Asia.

Calera Capital is a private investment firm with approximately $2.8 billion of capital under management. Founded in 1991 with offices in San Francisco and Boston, Calera invests across a diverse range of industries including business services, consumer and retail, financial services, healthcare, building products, and industrial manufacturing.  Calera Capital makes substantial equity investments in operating companies and seeks to build long-term sustainable value by working with management teams to implement strategic and operating initiatives.

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 authorised 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.