Harris williams & co. advises packers sanitation services, inc. in
its sale to harvest partners
Minneapolis--(business wire)--harris williams & co. announces the sale of packers sanitation services, inc. (pssi), a portfolio company of blue point capital partners (blue point), to harvest partners. the transaction closed on june 13, 2011. harris williams & co. acted as the exclusive advisor to pssi. the transaction was led by john neuner in the firm’s richmond office as well as glenn gurtcheff, tim alexander, ryan budlong, brant cash and lukas hansen in the firm’s minneapolis office. “pssi delivers mission critical services that enable food processors to maximize operational efficiency while meeting strict usda and fda food safety guidelines on a daily basis. management and blue point developed a market leading outsourced services platform through organic and acquisition growth. we are pleased to have found a great partner for management that shares their vision for the future, and we look forward to watching the pssi team’s continued success under the stewardship of harvest partners,” said john neuner, a managing director at harris williams & co. “pssi is an integral partner to many of north america’s leading food processors and is poised to continue benefitting from increasingly stringent food safety regulations. the compelling combination of long-term growth fundamentals in the food industry, increasing concerns regarding food safety, and continuing outsourcing trends collectively provide an attractive opportunity to generate sustained organic growth,” added glenn gurtcheff, a managing director at harris williams & co. harris williams & co. has been among the most active advisors for middle market companies operating in the food and beverage and business services sectors. the pssi transaction enabled harris williams & co. to combine its deep industry experience in food and beverage and business services to deliver a great result for its client. founded in 1971, pssi is the leading provider of outsourced cleaning and sanitation services for the food processing industry. pssi services over 325 facilities on a daily basis through its workforce that includes approximately 10,000 employees. blue point, with offices in charlotte, cleveland, seattle and shanghai, is one of the largest and most active resident middle market private equity firms in each of its target markets and focuses principally on investments in manufacturing, distribution and service businesses that primarily address commercial and industrial markets. blue point’s presence in the economies of both the united states and china positions the firm to create value by helping its investee firms to globalize. blue point has extensive experience in identifying, evaluating and successfully completing a variety of private equity investment transactions, including recapitalizations, management buyouts, corporate divestitures and industry consolidations. the principals of blue point have completed over 100 investments with a total transaction value of more than $2 billion. founded in 1981, harvest partners is a new york-based private equity investment firm, pursuing management buyouts and growth financings of middle market businesses. focused on light industrial, consumer/retail and business services businesses, harvest partners has over 25 years of experience investing in companies located in north america. harris williams & co. (www.harriswilliams.com), a member of the pnc financial services group, inc. (nyse:pnc), is the premier middle market advisor with a two-decade legacy of sell side excellence serving clients worldwide. the firm is focused exclusively on the middle market providing sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services. investment banking services are provided by harris williams llc, a registered broker-dealer and member of finra and sipc, and harris williams & co. ltd, an appointed representative of sturgeon ventures llp, which is authorised and regulated by the financial services authority. harris williams & co. is a trade name under which harris williams llc and harris williams & co. ltd conduct business in the u.s. and europe, respectively. for general release inquiries, please contact kimberly baker, marketing director, at +1 (804) 648-0072.
