Harris Williams Advises Mercer Foods on its Sale to Entrepreneurial Equity Partners and Mubadala Capital
13 Janeiro 2022 - 3:29PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised Mercer Foods
(Mercer), a portfolio company of Graham Partners (Graham), on its
sale to Entrepreneurial Equity Partners (e2p) and Mubadala Capital.
Mercer is a leading provider of freeze-dried fruit and vegetable
ingredients. The transaction was led by Tim Alexander, Brant Cash,
Andy Warczak and Cam Cornwell of the Harris Williams Consumer
Group.
“Having advised Mercer on its sale to Graham in 2016, it was
exciting to see what the company accomplished through their
partnership with Graham and to once again be a part of Mercer’s
journey,” said Tim Alexander, a managing director at Harris
Williams. “Mercer has a strong history of innovation and growth,
and we look forward to the company’s next chapter under the
stewardship of e2p, Mubadala Capital and the founding management
team.”
“We’ve continued to see a lot of interest from strategic buyers
and financial sponsors in the ingredients sector,” added Brant
Cash, a managing director at Harris Williams. “Mercer’s leading
position supplying ingredients to the foodservice and CPG channels
provides the company with outsized growth opportunities in a sector
that already has significant tailwinds behind it.”
“Natural and clean label ingredient solutions continue to drive
strong interest among investors in the food industry,” said Andy
Warczak, a director at Harris Williams. “Freeze-dried fruit and
vegetable ingredients have exciting applications throughout the
food and beverage industry as a result of being plant-based,
natural, nutritious and clean label.”
Based out of Modesto, California, Mercer is a leading provider
of freeze-dried fruit and vegetable ingredients. The company was
founded in 1980 by freeze-dried industry pioneer Jim Mercer and has
evolved into an industry leader through freeze-dried ingredient
innovation and best-in-class quality and service. Today, Mercer
serves a variety of blue-chip foodservice operators, food
manufacturers and retailers.
Graham is a private investment firm focused on investing in
technology-driven companies that are spurring innovation. Graham
targets companies with EBITDA between $5 million and $50 million
and will invest in smaller companies to the extent they complement
one or more of its other holdings. Since the firm's founding in
1988 by Steven Graham, Graham has closed over 130 acquisitions,
joint ventures, financings and divestitures. The committed capital
raised since inception through the Graham funds, together with
Graham-led co-investments, totals approximately $3.4 billion.
Investors include university endowments, charitable foundations,
financial institutions and private investors. Based in suburban
Philadelphia, the firm has access to extensive operating resources
and industrial expertise and is a member of The Graham Group, an
alliance of independent operating businesses, investment firms and
philanthropic entities, which all share in the common legacy of
entrepreneur Donald Graham.
e2p is a middle market, Chicago-based private equity firm
focused on control-oriented investments in the food and consumer
packaged goods industries. e2p’s team of professionals includes
experienced food and consumer packaged goods executives and
investors who bring an entrepreneurial mindset and extensive
industry networks to supporting and collaborating with portfolio
company teams.
Mubadala Capital is a wholly owned asset management subsidiary
of Mubadala Investment Company, a leading global sovereign investor
headquartered in Abu Dhabi, United Arab Emirates. In addition to
managing its own balance sheet investments, Mubadala Capital
manages approximately $9 billion in third-party capital vehicles on
behalf of institutional investors in four of its businesses,
including three private equity funds, two early-stage venture
funds, a long-biased public equities fund and two Brazil special
opportunities funds.
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 Consumer Group has completed transactions
across a variety of verticals, including branded consumer products;
consumer services; food, beverage and agribusiness; and restaurant
and retail. For more information on the Harris Williams Consumer
Group and recent transactions, visit the Consumer 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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