PNC Financial Services Group Stock Price, News & Analysis

Harris Williams announced its advisory role in the sale of Stonewall Kitchen, a specialty food brand, to TA Associates. Stonewall Kitchen, known for its quality artisan products, has successfully expanded into personal care and home goods over its 30-year history. The company, founded by Jonathan King and Jim Stott, offers a diverse range of premium brands, including Vermont Coffee Company and Village Candle. The transaction highlights the brand's growth and the potential for further expansion under TA's ownership.

Harris Williams has announced promotions across its U.S. and European offices, reflecting its strong growth and record transaction volume in the past year. Key promotions include Anthony Basmajian, Jeff Kidd, and others to managing director, along with multiple individuals elevated to director and vice president roles. The firm attributes these advancements to its commitment to developing talent through an organic model, with many promoted having over a decade of service. Harris Williams aims to continue its growth following a historic year in M&A activity.

Harris Williams advised Smart Care Equipment Solutions on its sale to Zone Climate Services, a Wind Point Partners portfolio company. Smart Care, headquartered in St. Paul, Minnesota, is a national provider of kitchen equipment repair and maintenance services, servicing over 40,000 locations across the U.S. The transaction underscores the demand for need-based service providers in the food service industry, which remains attractive to investors. Audax Private Equity, Smart Care's previous owner, has invested significantly, and Zone is positioned as a leader in commercial refrigeration services in the Midwest.

The PNC Financial Services Group will announce its Q1 2022 financial results on April 14 at 6:45 a.m. ET. A conference call for investors, led by CEO William S. Demchak and CFO Robert Q. Reilly, is scheduled for the same day at 11 a.m. ET. Additionally, PNC's 2022 Annual Shareholders Meeting will occur virtually on April 27. Shareholders can participate by accessing the meeting at www.virtualshareholdermeeting.com/PNC2022. Key voting and proxy materials will be provided beforehand.

Harris Williams has advised Morgan Stanley Capital Partners (MSCP) on its acquisition of SpendMend, a prominent provider of technology-enabled cost solutions for the healthcare sector. This move aims to bolster SpendMend's growth and capabilities in managing healthcare costs. SpendMend is recognized for its innovative technology and extensive data, enhancing operational efficiencies for health systems. MSCP’s investment reflects ongoing interest in tech solutions addressing vital challenges in healthcare, presenting opportunities for further growth through organic expansion and mergers.

Harris Williams advised West Star Aviation on its sale to The Sterling Group. West Star, a leader in MRO services for business aviation, has more than doubled in size under Norwest Equity Partners' ownership. The deal highlights strong investor interest in the business aviation sector, reinforcing its potential for future M&A activity. West Star services jets from all major aircraft OEMs, showcasing its extensive capabilities. Sterling, a private equity firm, focuses on controlling interests in manufacturing and industrial services, managing over $5.7 billion in assets.

PNC Treasury Management has launched PNC EarnedIt, an innovative on-demand pay solution powered by DailyPay. This tool allows employees to access their earned wages anytime during the pay cycle, improving cash flow management. Employees can use a mobile app to receive pay immediately or by the next business day, utilizing existing bank accounts or selected cards. In a competitive labor market, this feature aims to enhance employee attraction and retention by providing greater financial flexibility. PNC remains committed to technological advancements that support clients’ cash management needs.

PNC Financial Services Group announced that Emma Loftus, Executive Vice President and Head of Treasury Management, will speak on business performance and strategy at the RBC Capital Markets Global Financial Institutions Conference. This virtual event is scheduled for 1:20 p.m. (ET) on March 8, 2022. Interested parties can access a live webcast and related materials at www.pnc.com/investorevents. PNC is one of the largest financial services institutions in the U.S., focusing on retail and business banking, wealth management, and specialized corporate services.