Harris Williams & Co. Advises Wright Line Holdings, Inc. in its Pending Sale to Strategic Buyer Eaton Corporation
Harris Williams & Co. announces that Wright Line Holding, Inc. (Wright Line), a portfolio company of GSC Group (GSC) and certain funds managed by Oaktree Capital Management, L.P. (Oaktree), has entered into an agreement to be acquired by strategic buyer Eaton Corporation. The transaction is being executed by Harris Williams & Co. and led by Bill Roman, Greg Creamer and Matt Volinsky from the firm's Boston office.
Based in Worcester, MA, Wright Line provides customized enclosures, rack systems, and air flow management systems to store, power, and secure mission-critical IT data center electronics. Over the last 12 months the company had sales of approximately $101 million and has more than 350 employees.
GSC is a registered investment advisor specializing in complex credit-driven investment strategies with offices in New Jersey, New York and London. GSC investors include both institutional investors and substantial net worth individuals seeking sophisticated and attractive alternative investing opportunities.
Oaktree (GSTrUE: OAKTRZ) is a premier global alternative and non-traditional investment manager with $75 billion in assets under management as of June 30, 2010. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, high yield and convertible bonds, senior loans, corporate control (including power infrastructure), real estate, emerging market equities and mezzanine finance. Oaktree was founded in 1995 by a group of principals who have worked together since the mid-1980s. Headquartered in Los Angeles, CA, the firm has approximately 600 employees and offices in 13 cities worldwide.
Eaton Corporation is a diversified power management company with 2009 sales of $11.9 billion. Eaton is a global technology leader in electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has approximately 70,000 employees and sells products to customers in more than 150 countries.