Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the recapitalization of Garretson Resolution Group (GRG), a rapidly growing provider of party-neutral outsourced medical lien resolution and complex settlement administration services, by Harvest Partners (Harvest) and the GRG management team. GRG was a portfolio investment of Pfingsten Partners, L.L.C. (Pfingsten Partners). Harris Williams & Co. served as the exclusive financial advisor to GRG and Pfingsten Partners. The transaction closed on December 20, 2012 and was led by Derek Lewis, Brent Spiller, Corey Benjamin and Jason Klinghoffer from the firm’s Richmond office.
“We are excited to have helped the Garretson management team find a new partner that shares its vision for the company’s future. GRG is truly a pioneer and an innovator in healthcare lien resolution and complex settlement administration services. We look forward to following the continued growth and success of the company,” said Derek Lewis, managing director and co-head of the Business Services Group at Harris Williams & Co.
Founded in 1998, GRG serves law firms, corporations, insurance companies, plaintiffs and defendants in mass tort, class action and single event litigations. GRG is headquartered in Cincinnati, OH, and has additional facilities in Charlotte, NC, New Orleans, LA and Chattanooga, TN. GRG’s management team, including Founder & CEO Matt Garretson and President Jason Wolf, will continue to lead the company.
Pfingsten Partners ( www.pfingstenpartners.com) is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago and representative offices in ChangAn, China, and New Delhi, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten Partners has raised four funds with total commitments of approximately $1.0 billion, and has made portfolio investments in 86 manufacturing, distribution and business services companies.Founded in 1981, Harvest ( www.harvpart.com) is a leading New York-based private equity investment firm. Harvest focuses on investing in leading companies in the business and industrial services, manufacturing and distribution, midstream energy and consumer products and retail sectors. This strategy leverages Harvest’s experience over more than 30 years in financing organic and acquisition-oriented growth companies. Harris Williams & Co. ( www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services. The firm’s Business Services Group is dedicated to serving the needs of middle market companies within the rapidly evolving service-based economy. For more information, contact Derek Lewis at +1 (804) 648-0072. Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.
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