Market Overview

Harris Williams Advises Specialty Welding and Turnarounds LLC on its Sale to ORIX Capital Partners LLC

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Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Specialty Welding and Turnarounds LLC (SWAT), a portfolio company of Hastings Equity Partners (Hastings), on its sale to ORIX Capital Partners LLC. SWAT is a leading provider of specialty welding and turnaround services to refinery, petrochemical and industrial customers. The company works across the Gulf and West Coast regions, maintaining a craft labor database of over 4,000 professionals. The transaction was led by Matt White, Drew Spitzer and Neha Shah of the Harris Williams Energy, Power & Infrastructure (EPI) Group and Dan Pate of the firm's Richmond office.

"In a short period of time, SWAT has established itself as a truly differentiated platform with a unique culture that continues to outperform its peers in the specialty welding space," said Matt White, a managing director at Harris Williams. "The company has shown an ability to identify and win new customers by leveraging its strategic footprint, best-in-class personnel and deep industry relationships. This transaction adds to our successful track record of advising premier companies in the infrastructure services space."

SWAT is a leading provider of specialty welding and other turnaround services to refinery, petrochemical and industrial customers. Founded in 2014 by an experienced executive management team, SWAT is an industry leader with elite craftsmen, serving its blue-chip customer base with a commitment to safety and quality service. The company is headquartered in Gonzales, Louisiana.

Hastings is a private equity firm focused on investing in lower-middle market industrial services and equipment businesses. Hastings' approach is to leverage the extensive operational experience of the firm's managers and investors, many of whom are active or former CEOs of Fortune 1000 companies. In addition, due to the firm's expanding portfolio of industrial services companies, Hastings is able to share best practices, technology trends and contacts across its platform to ensure that all of its investments benefit. Hastings strives to help its portfolio companies create sustained value for their employees, customers and investment partners.

ORIX Capital Partners is a private equity firm focused on making direct equity investments in established middle market companies throughout North America. The firm provides patient capital and partners with management teams to support growth and achieve long-term value.

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 EPI Group has experience across a broad range of sectors, including industrial, utility and infrastructure services; oil and gas equipment and services; energy efficiency and clean tech; power products and technology; engineering and construction; and environmental services. For more information on the firm's energy, power, and infrastructure 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 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. 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.

For media inquiries, please contact Katie Langemeier, associate brand manager, at +1 (804) 648-0072.

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