Harris Williams Advises Service Logic on its Sale to Leonard Green & Partners, L.P.
November 03 2020 - 9:33AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Service Logic,
a portfolio company of Warburg Pincus LLC (Warburg Pincus), on its
sale to Leonard Green & Partners, L.P. (LGP). Service Logic is
a leading independent commercial HVAC services provider in the
United States. The transaction was led by Bob Baltimore, Brian
Lucas, Anthony Basmajian, Bryce Walker and Brian Holden of the
Harris Williams Business Services Group.
“Service Logic delivers best-in-class HVAC and mechanical
services and is an indispensable partner to its customers,” said
Brian Lucas, a managing director at Harris Williams. “We look
forward to watching the management team continue to deliver on
their strategic vision across the company’s national platform.”
“We are proud to have worked on this transaction which extends
our experience in the commercial services sector and believe LGP
will be a terrific new partner for Service Logic,” added Bob
Baltimore, a managing director at Harris Williams. “This
transaction highlights the growing interest among investors in
market leaders delivering non-discretionary services and we believe
the sector is primed for future platform and add-on
acquisitions.”
Headquartered in Charlotte, North Carolina, Service Logic is one
of the largest privately held HVAC and mechanical services
providers in the United States. Its nationwide footprint helps
provide services for commercial HVAC equipment, chilled water
systems and building automation/controls systems to over 25,000
customers.
Warburg Pincus is a leading global private equity firm focused
on growth investing. The firm has more than $56 billion in private
equity assets under management. The firm’s active portfolio of more
than 190 companies is highly diversified by stage, sector and
geography. Warburg Pincus is an experienced partner to management
teams seeking to build durable companies with sustainable value.
Founded in 1966, Warburg Pincus has raised 19 private equity funds,
which have invested more than $86 billion in over 910 companies in
more than 40 countries. The firm is headquartered in New York with
offices in Amsterdam; Beijing; Berlin; Hong Kong; Houston; London;
Luxembourg; Mumbai, India; Mauritius; San Francisco; São Paulo;
Shanghai; and Singapore.
LGP is a leading private equity investment firm founded in 1989
and based in Los Angeles. The firm partners with experienced
management teams and often with founders to invest in
market-leading companies. Since inception, LGP has invested in over
90 companies in the form of traditional buyouts, going-private
transactions, recapitalizations, growth equity, and selective
public equity and debt positions. The firm primarily focuses on
companies providing services, including consumer, business and
healthcare services, as well as retail, distribution and
industrials. LGP has raised over $40 billion of committed capital
since inception. The firm’s eighth flagship fund, Green Equity
Investors VIII, L.P., and its dedicated middle market fund, Jade
Equity Investors, L.P., were raised in 2019 with commitments
totaling $12 billion and $2.75 billion, respectively.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Business Services Group has experience
advising companies that provide a range of commercial, industrial
and professional services. For more information on the firm’s
Business Services Group and other recent transactions, visit the
Business Services Group’s section of the Harris Williams
website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd 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. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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For media inquiries, please contact Julia Moore at
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