Harris Williams Advises IMIA Group Holdings on its Sale to The Carlyle Group and Stellex Capital Management
November 11 2021 - 9:17AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised IMIA Group Holdings
(IMIA), a portfolio company of J.F. Lehman & Company (JFLCO),
on its sale to The Carlyle Group (NASDAQ: CG; Carlyle) and Stellex
Capital Management (Stellex). IMIA is a leading provider of
multi-disciplined marine services for the maintenance, repair and
overhaul (MRO) and new construction of United States Navy (USN)
vessels. The transaction was led by Doug Kinard and Elliot Cave of
the Harris Williams Aerospace, Defense & Government Services
(ADG) Group and Drew Spitzer, Matt White and Greg Waller of the
firm’s Energy, Power & Infrastructure (EPI) Group.
“Under JFLCO’s ownership, IMIA successfully entered new markets,
added complimentary capabilities, and completed highly accretive
add-on acquisitions to become the go-to provider of outsourced
services for naval MRO and new ship construction,” said Doug
Kinard, a managing director at Harris Williams. “With Carlyle and
Stellex, IMIA has two great partners for its next phase of growth,
and we look forward to watching the continued success of the
business in the years to come.”
“IMIA has established itself as a leader in outsourced maritime
services, serving every ship and submarine type in the fleet across
every geography in the continental U.S. and Hawaii. Long-term
trends in outsourced maritime services, accelerated by continued
U.S. investment in the expanding fleet, will translate into
significant growth opportunities for the business over the next
decade,” added Greg Waller, a director at Harris Williams.
“Leveraging the experience and expertise of the Harris Williams
ADG Group and EPI Group was a critical component of this
transaction,” said Drew Spitzer, a managing director at Harris
Williams. “IMIA represents a great outcome for our Harris Williams
team in two of our practice areas, and we are very appreciative of
the opportunity to work alongside the teams at JFLCO and IMIA.”
Headquartered in Spanish Fort, Alabama, IMIA is the nation’s
primary independent provider of comprehensive marine preservation,
structural, scaffolding and environmental containment, and staffing
services for the MRO and new construction of USN submarines,
aircraft carriers, surface combatants and auxiliaries. IMIA
addresses the USN's most complex MRO and new construction
requirements with a workforce of over 1,500 employees deployed
across USN and independent shipyards.
Founded in 1992, JFLCO is a leading middle market private equity
firm focused exclusively on the aerospace, defense, maritime,
government and environmental sectors. The firm has offices in New
York and Washington, D.C.
Carlyle is a global investment firm with deep industry expertise
that deploys private capital across three business segments: Global
Private Equity, Global Credit and Investment Solutions. With $276
billion of assets under management as of June 30, 2021, Carlyle’s
purpose is to invest wisely and create value on behalf of its
investors, portfolio companies and the communities in which it
lives and invests. Carlyle employs nearly 1,800 people in 27
offices across five continents.
With offices in New York, Detroit and London, Stellex is a
private equity firm with over $2.6 billion in AUM. Stellex seeks to
identify and deploy capital in opportunities that have the
potential to provide stability, improvement and growth. Portfolio
companies benefit from Stellex’s industry knowledge, operating
capabilities, network of senior executives, strategic insight and
access to capital. Sectors of particular focus include specialty
manufacturing, industrial and business services, aerospace and
defense, automotive, and government services.
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 ADG Group offers strategic advice to a
global base of leading aerospace, defense and government services
clients. For more information on the ADG Group and other recent
transactions, visit the ADG Group’s section of the Harris Williams
website.
The Harris Williams EPI Group has significant experience
advising market leading providers of technology, services and
products across a broad range of sectors. These sectors include
energy management; infrastructure services; utility services;
testing, inspection, and certification services; environmental
services; engineering and construction; power products and
technology; and energy technology. For more information on the
Group’s experience, please visit the EPI 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 8th Floor, 20 Farringdon Street, London EC4A 4AB, 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. DE321666994). 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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Julia Moore media@harriswilliams.com
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