Harris Williams & Co., a middle-market investment bank focused on the advisory needs of clients worldwide, announced the sale of Pipp Mobile Storage Systems, a provider of backroom management solutions in the U.S. retail industry, to Novacap Industries. Pipp was previously a portfolio company of a private equity fund managed by Prospect Partners. Harris Williams & Co. acted as the exclusive financial advisor to Pipp. The transaction closed on December 7, 2012 and was led by Patrick McNulty, John Neuner, David Kennedy and Chip Duggins from the firm’s Richmond office.

“We are excited to help Pipp find a partner that shares its vision and strategy for future growth opportunities. Pipp’s management team has done an excellent job building a unique niche within the retail services industry. Customization is a growing trend within manufacturing and Pipp’s leading end-to-end services and support continue to capitalize on that trend while positioning Pipp as a market leader going forward,” said Patrick McNulty, a managing director at Harris Williams & Co.

“With consumer confidence at its highest level in more than four and a half years, businesses such as Pipp that serve the retail industry with efficient and economical solutions are poised to benefit. Novacap is an experienced investor within the consumer industry. We expect the partnership to help drive future growth for the company,” said John Neuner, a managing director at Harris Williams & Co.

Headquartered in Walker, MI, Pipp is a provider of backroom management solutions to the U.S. retail industry, specializing in the design, manufacture and installation of customized mobile shelving solutions that maximize backroom space
efficiency.

Prospect Partners is a private equity firm investing in smaller lower-middle-market companies, managing $470 million across three funds.

Novacap is one of Canada's leading private equity firms. Since 1981, Novacap’s partnership approach to investing has helped companies accelerate their growth and maximize their value.
 
Harris Williams & Co., a member of The PNC Financial Services Group, is a middle-market investment bank focused on the advisory needs of clients worldwide. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.