Harris Williams Advises American Track on Its Recapitalization With DFW Capital Partners
December 03 2021 - 4:59PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised American Track, a
portfolio company of Hilltop Private Capital (Hilltop) and PNC
Mezzanine Capital (PNC MC), on its recapitalization with DFW
Capital Partners (DFW). American Track is a leading provider of
inspection, maintenance, repair and specialized construction
services for industrial railroad infrastructure in the United
States. The transaction was led by the Harris Williams
Transportation & Logistics (T&L) Group, including Joe
Conner, Ty Denoncourt, Trey Balson, Justin Icardo and George
Stephenson.
“The American Track transaction represents another superb
outcome for the Harris Williams T&L Group,” said Joe Conner, a
managing director at Harris Williams. “The sale adds to our rapidly
growing transportation infrastructure practice and highlights the
depth of our longstanding experience in the rail services
sector.”
“We love working with great companies like American Track, with
its market leading position, superior customer service and strong
management team,” said Ty Denoncourt, a director at Harris
Williams. “American Track CEO Tom Lucario and his entire team have
built the company into an impressive platform, and DFW will be a
great partner for the business as it continues to grow.”
Headquartered in Fort Worth, Texas, American Track provides
railroad inspection engineering, repair and maintenance, and
construction services for critical rail infrastructure at
industrial, municipal and logistics sites from various locations
across the U.S.
Hilltop is a private equity firm focused on providing flexible
capital and operating resources to lower-middle market companies at
a growth or ownership inflection point. The firm is operated by
experienced investors with a successful track record of supporting
management teams to reach their strategic, operational and
financial goals.
PNC MC is a flexible junior capital provider with expertise
supporting buyouts, recapitalizations and consolidation strategies.
PNC MC invests in companies operating in a wide range of
industries, but has particular interest in manufacturing,
value-added distribution, business services and consumer services.
Since 1989, PNC MC has been a stable, thoughtful junior capital
partner for private equity firms, independent sponsors,
entrepreneurs and management teams. PNC MC's approach is to
underwrite the long-term business strategy of their portfolio
companies, allowing them to respond constructively to the
opportunities and challenges of the changing business environment.
As a result, PNC MC has made 190 investments in 98 portfolio
companies in support of 367 transactions. Investments are a
combination of subordinated debt and equity between $10 million and
$50 million in companies with strong management, proven business
models, stable cash flows and a clear plan for growth.
DFW is a private equity investment firm focused on lower-middle
market companies. The firm concentrates on service companies
catering to complex and regulated end markets, with an emphasis on
healthcare and outsourced business and industrial support services.
DFW has established a more than 20 year track record of success in
both building leading companies and recognizing attractive returns
for its investors. DFW is headquartered in Teaneck, New Jersey, and
maintains an office in Chevy Chase, Maryland.
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 Transportation & Logistics Group serves
companies in a broad range of attractive niches, including
third-party logistics (3PL), automotive and heavy-duty vehicle,
transportation equipment, and truck, rail, marine and air
transportation. 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 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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For media inquiries Julia Moore media@harriswilliams.com
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