Harris Williams Advises Joe Hudson’s Collision Centers on its Sale to TSG Consumer Partners
September 10 2019 - 9:04AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Joe Hudson’s
Collision Centers (JHCC), a portfolio company of Carousel Capital
(Carousel), on its sale to TSG Consumer Partners, LLC (TSG). JHCC
is a leading platform in the collision repair industry, operating
approximately 110 state-of-the-art auto body repair shops across
the Southeastern region of the United States. Carousel, JHCC's
owner since 2014, will remain a minority investor in the company.
The transaction was led by Joe Conner, Frank Mountcastle, Jeff
Kidd, James O’Malley and Elliott Yousefian of the Harris Williams
Transportation & Logistics (T&L) Group.
“JHCC has a longstanding reputation for providing market leading
collision repair services to their customers as well as insurance
partners,” said Joe Conner, a managing director at Harris Williams.
“Through their successful partnership with Carousel, JHCC has
solidified their position as a leading provider in the industry and
is now the fourth largest MSO in the country. We believe TSG is an
excellent partner to help the company continue on its growth
trajectory, and we are excited to see what the company accomplishes
over the coming years.”
“It was a pleasure to work with the JHCC management and Carousel
teams on this transaction,” added Jeff Kidd, a director at Harris
Williams. “The deal represents another marquee transaction within
the aftermarket services space and continues the firm’s strong
record of success in the broader automotive aftermarket this year.
We believe the automotive aftermarket will continue to generate
strong demand for investment given the sector’s organic growth
dynamics, the fragmented nature of the market and the sector’s
stability throughout economic cycles.”
JHCC is a trusted provider and established leader in auto body
collision repair. With 31 years of experience in the automotive
repair industry, JHCC is recognized for its premier collision
repair facilities, which are operated by highly-skilled
professionals with quality workmanship. JHCC’s first location,
which was opened in 1989 and founded by Joe Hudson, stands firm in
Alabama’s capitol, Montgomery. The company operates 110 locations
throughout nine states with plans to continue expansion.
Carousel is a private investment firm that invests in companies
located in the Southeastern United States. Carousel’s investor base
includes institutional investors and an elite group of more than
100 current and former CEOs with significant operating experience.
Since its inception, Carousel has invested in 43 companies
primarily in three targeted growth sectors: business services;
consumer services; and healthcare services. In addition to JHCC,
Carousel's well-established and successful track record of
partnering with companies in the automotive aftermarket service
industry includes investments in Meineke, Maaco, Driven Brands and
Express Oil Change/Tire Engineers. Similar to its continued
investment in JHCC, Carousel holds continuing interests in Mavis
Discount Tire/Express Oil Change.
TSG is a leading private equity firm focused exclusively on the
branded consumer sector. Since its founding in 1987, TSG has been
an active investor in the food, beverage, restaurant, fitness,
beauty, personal care, household, apparel and accessories, and
e-commerce sectors. Representative past and present partner
companies include Power Stop, Duckhorn Wine Company, Planet
Fitness, IT Cosmetics, REVOLVE, BrewDog, Canyon Bicycles, Pabst,
Backcountry, vitaminwater, thinkThin, popchips, Stumptown, Smashbox
Cosmetics and e.l.f. Cosmetics.
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 T&L Group serves companies in a broad
range of attractive niches, including automotive and heavy duty
vehicle; transportation equipment; third-party logistics (3PL); 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 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. awaited). 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190910005736/en/
Katie Langemeier, associate brand manager +1 (804) 648-0072
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Apr 2024 to May 2024
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From May 2023 to May 2024