GLC Advisors Enhances Harrell-Fish's Growth Potential through Strategic Partnership with New State Capital Partners

GLC Advisors Enhances Harrell-Fish's Growth Potential through Strategic Partnership

GLC Advisors & Co. (GLC), a prominent independent investment banking advisory firm, recently announced its role in facilitating a significant investment for Harrell-Fish Inc. (HFI), a leading mechanical, electrical, and plumbing (MEP) service provider based in Bloomington, Indiana. This partnership involves a majority investment from New State Capital Partners, an esteemed private equity firm known for its focus on growth-oriented companies.

Key Highlights of the Transaction

The transaction marks a pivotal moment for HFI, founded in 1985, as it aims to leverage this investment to enhance its operational capacity, expand services, and continue its trajectory of organic growth. HFI is well-regarded in the Midwest for offering a comprehensive suite of services that include HVAC, plumbing, process piping, fabrication, and other building systems solutions. Their diverse client base spans numerous sectors including healthcare, education, life sciences, and government facilities. This investment will not only bolster HFI’s existing operations but also position them for future mergers and acquisitions—a common strategy in the MEP industry.

Michael Richter, Managing Director at GLC, expressed pride in advising HFI during this critical transition. He noted that the firm’s strong reputation within the industry, along with its commitment to client relationships and innovation, was a key factor in securing the investment. Richter highlights that HFI’s long-standing commitment to providing integrated mechanical contracting solutions truly sets them apart within the MEP sector.

Expert Insights from GLC Advisors

For this transaction, GLC Advisors provided crucial support and advice during the process, emphasizing negotiation, structuring, and capital acquisition strategies. The partnership with New State Capital Partners is particularly significant; their expertise in facility services aligns well with HFI’s long-term vision and operational needs. Notably, existing HFI owners will maintain a considerable stake in the company, ensuring continuity and stability throughout this transition.

Steve Dawson, CEO of HFI, stated, “Choosing GLC as our investment banking partner was crucial to our success in this deal. Their team's profound understanding of our industry provided invaluable insights that guided us through the process. They facilitated finding the ideal partner in New State that not only shares our goals but also genuinely cares about our company’s future.”

MEP Industry Dynamics

This transaction reflects several dynamics impacting the MEP sector today. The increasing emphasis on scale, integrated service offerings, robust management teams, and stable long-term customer relationships are vital components driving growth in the industry. GLC Advisors recently published a thought leadership piece titled “Key Drivers to a Successful MEP Sale—from Bankers that Advise Them,” which examines these significant trends fostering continued investor interest in MEP sectors and the strategic consolidation movements taking place.

In summary, GLC Advisors’ successful facilitation of Harrell-Fish Inc.’s partnership with New State Capital Partners underscores the firm’s expertise in navigating complex MEP transactions. By leveraging financial insights and industry knowledge, GLC is poised to support HFI in achieving its ambitious growth objectives. As the MEP industry continues to evolve, such partnerships will be essential for businesses aiming to maintain competitive advantage and deliver unparalleled service to their clients.

About GLC Advisors

GLC Advisors, LLC stands as an independent investment bank providing trusted advisory services in complicated M&A, restructuring, and capital market transactions. With a wide-reaching presence across major U.S. cities like New York, Denver, Los Angeles, and San Francisco, GLC combines senior-level industry expertise with tailored solutions to excel in delivering results for its clients. For further information on GLC Advisors, their services, and insights into the MEP industry, please visit www.glca.com.