Harris Williams, a global investment bank, has announced that it advised CIRCOR International Inc. on the sale of its lubrication management and chemical cleaning solutions division, Reliability Services, to an affiliate of RelaDyne LLC, a portfolio company of Audax Private Equity.
The transaction was led by Matt White, Drew Spitzer, Greg Waller, and Thomas Saunders of Harris Williams’ Energy, Power & Infrastructure (EPI) Group.
“Reliability Services is a proven market leader with best-in-class service capabilities and a strong brand that resonates in the market,” said Matt White, a Managing Director at Harris Williams. “We believe that the business is well positioned for significant long-term growth, and we are pleased to have advised on its combination with RelaDyne.”
“The sale of Reliability Services is the latest addition to Harris Williams’ established resume of advising market leading providers of outsourced industrial services,” added Drew Spitzer, a Managing Director at Harris Williams. “We believe the combination with RelaDyne will be a significant growth driver for both businesses, and we look forward to following the combined platform’s future success.”
Reliability Services is a leading provider of critical lubrication and flushing services and oil misting equipment to customers in oil and gas, refining, petrochemical, power generation, industrial and Naval markets.
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