Harris Williams, a middle market investment bank focused on the advisory needs of clients, has advised Wulftec International, Inc. on its sale to Duravant, a global engineered equipment and automation solutions provider to the food processing, packaging and material handling sectors. A subsidiary of H.I.G. Europe's portfolio company Maillis Group (Maillis), Wulftec is a provider of end-of-line packaging automation solutions in North America. The transaction was led by Patrick McNulty, Brad Morrison, Ryan Nelson, Jeff Perkins, Lars Friemann, Brandt Carr and Shinik Patel of Harris Williams' Industrials Group.
"We are thrilled to have worked with H.I.G. Europe and the outstanding management team at Wulftec on this transaction," said Patrick McNulty, Managing Director at Harris Williams. "Furthermore, the successful outcome underscores Harris Williams' ability to leverage its global execution capabilities and expertise within the packaging and industrial technology sectors."
"Wulftec's superior technical capabilities and trusted reputation in the market continue to drive both impressive financial performance and promising opportunities for growth," said Brad Morrison, Director at Harris Williams. "Wulftec and Duravant are market leaders, and we look forward to following their combined success as they continue growing into the leading automation equipment platform globally."
With over 200 employees, Wulftec designs and manufactures complete end-of-line packaging solutions, including fully- and semi-automatic stretch wrapping and strapping equipment. Founded in 1990, Wulftec is located in Ayer's Cliff, Quebec and has been owned by Maillis since 2002.
Headquartered in Downers Grove, IL, Duravant is a global engineered equipment company with manufacturing, sales and service facilities throughout North America. Through its portfolio of operating companies, Duravant delivers end-to-end process solutions for customers and partners through engineering and integration expertise, project management and operational excellence. With worldwide sales distribution and service networks, they provide immediate and lifetime aftermarket support to all the markets they serve in the food processing, packaging and material handling sectors. Duravant is a portfolio company of Warburg Pincus LLC.
Harris Williams' 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 contact:
Harris Williams & Co.
1001 Haxall Point 9th floor
Richmond, VA 23219
804-915-0179
klangemeier@harriswilliams.com
www.harriswilliams.com
Duravant
3500 Lacey Road, Ste. 290
Downers Grove, IL 60515
844-DURAVANT
www.duravant.com