PNC Financial Services Group - PNC STOCK NEWS

Harris Williams has advised FullSpeed Automotive on its sale to MidOcean Partners. FullSpeed, a significant player in the automotive service sector with nearly 600 locations, operates brands such as Grease Monkey and SpeeDee. CenterOak Partners was the previous owner. The transition aims to leverage FullSpeed's strategic position in high-growth markets. MidOcean specializes in middle-market investments, having managed around $4.8 billion in capital. This acquisition is expected to further enhance FullSpeed's market presence and operational capabilities.

PITTSBURGH, Nov. 24, 2020 /PRNewswire/ -- PNC Financial Services Group announced that Chairman and CEO William S. Demchak and CFO Robert Q. Reilly will participate in a virtual discussion on business performance and strategy at the Goldman Sachs US Financial Services Conference on Dec. 8, 2020, at 1:40 p.m. ET. Investors can access a live webcast and related materials on www.pnc.com/investorevents. PNC is a leading diversified financial services institution in the U.S., providing banking, lending, wealth management, and asset management services.

Harris Williams has announced its advisory role in the sale of Truco Enterprises to Utz Brands, Inc. Truco, known for its On The Border® tortilla chips, salsa, and queso, is backed by Insignia Capital Group. The deal is driven by strong consumer demand in the snacking sector, highlighting Truco's market performance. Harris Williams has extensive experience in the food and beverage industry, having completed over 60 transactions, further strengthening its presence in this sector.

Harris Williams has successfully advised Highline Aftermarket Holdings on its sale to Pritzker Private Capital. Highline, a prominent distributor of automotive aftermarket products, has established itself since its inception in 2016, achieving significant growth. The transaction, which highlights Highline's strength in the automotive aftermarket, was managed by a team from the Harris Williams Transportation & Logistics and Specialty Distribution Groups. The private equity firm Sterling, which had a controlling interest in Highline, has a strong track record in the investment sector.

Harris Williams is advising MPM Products on its pending sale to 3i Group. MPM, a portfolio company of ECI Partners, specializes in premium, natural pet food under brands like Applaws, Encore, and Reveal. The transaction is notable due to MPM's robust international sales, comprising over 60% of its revenue, and strong buyer interest amid the COVID-19 pandemic. ECI's stewardship has transformed MPM into a significant player in the pet food market, recognized for its high-quality standards and consumer-centric approach.

Harris Williams has advised Veregy, an energy services company, on its sale to Court Square Capital Partners. The transaction highlights the growing market interest in energy-efficient solutions as Veregy specializes in building automation, energy management, and solar generation. The company, which employs over 500 professionals nationwide, is recognized for its customer service and creating substantial savings for clients. Court Square Capital, with $7 billion in assets under management, seeks to invest in firms with significant growth potential in various sectors.

Harris Williams announced its advisory role in the sale of Service Logic, a leading HVAC services provider, to Leonard Green & Partners. This strategic transaction highlights Service Logic's position in the market, serving over 25,000 customers across the U.S. Warburg Pincus, Service Logic's former owner, has managed over $56 billion in assets, while LGP has a history of successful investments in market-leading companies. The deal underscores the increasing interest in essential services sectors.

Harris Williams has advised Parts Authority on its sale to Kohlberg & Company. Parts Authority is a leading aftermarket distributor of automotive and truck parts in the U.S. The company has a strong market presence with over 200 locations across several states. The transaction aims to enhance Parts Authority's strategic growth following its history of organic expansion and acquisitions. The advisory team from Harris Williams included managing directors specializing in Transportation & Logistics and Specialty Distribution.

Harris Williams is advising SentryOne on its planned acquisition by SolarWinds (NYSE: SWI). SentryOne specializes in database performance monitoring and DataOps software for Microsoft Data Platform. The deal is anticipated to strengthen SolarWinds’ capabilities in serving mid-market and larger enterprises. SentryOne, founded in 2004, is recognized for optimizing SQL Server performance. Mainsail Partners, a growth equity firm, supports SentryOne's growth strategy. SolarWinds offers affordable IT management solutions globally, addressing diverse IT service needs.