Harris Williams & Co. Provides Advisory Services to the Board of DexKo Global Inc. on its Sale to KPS Capital Partners, LP
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 provided advisory services to The Sterling Group (Sterling) and the board of DexKo Global Inc. (DexKo) on DexKo’s sale to funds managed by KPS Capital Partners, LP (KPS). DexKo is a leading manufacturer of highly engineered running gear technology. Advisory services were provided by Frank Mountcastle and James O’Malley of Harris Williams & Co.’s Transportation & Logistics (T&L) Group, Tim Webb and Ty Denoncourt of the firm’s Industrials Group and Hiter Harris of the firm’s Richmond office.
“Under the leadership of Chief Executive Officer Fred Bentley, DexKo has become a leading global manufacturer of highly engineered products,” said Frank Mountcastle, a managing director in Harris Williams & Co.’s T&L Group. “The partnership the management team forged with Sterling to transform the company into today’s global platform is a tremendous success story.”
“We look forward to watching the continued growth and development of the company as it enters into a new partnership with KPS,” said Tim Webb, a managing director in Harris Williams & Co.’s Industrials Group. “It has been a pleasure working with the DexKo and Sterling teams.”
DexKo is a leading global supplier of highly engineered running gear technology, chassis assemblies and related components with over 130 years of trailer and caravan componentry experience. The company is headquartered in Novi, Michigan and employs over 4,500 employees with 39 manufacturing facilities and 25 distribution centers across the globe.
Founded in 1982, Sterling is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 51 platform companies and numerous add-on acquisitions for a total transaction value of over $10 billion. Currently, Sterling has over $2.2 billion of assets under management.
KPS is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $5.2 billion of assets under management. For over two decades, the partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies rather than primarily relying on financial leverage. KPS portfolio companies have aggregate annual revenues of approximately $4.3 billion, operate 114 manufacturing facilities in 28 countries and employ approximately 41,000 associates, directly and through joint ventures worldwide.
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 T&L Group serves companies in a broad range of attractive niches, including automotive and heavy duty vehicle, third-party logistics (3PL), truck, rail, marine and air transportation, and transportation equipment. For more information on the firm’s T&L Group and other recent transactions, visit the T&L 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 7078852). 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.