NEW YORK, July 26, 2011 /PRNewswire/ -- Harry Wils & Co., a Secaucus, N.J.-based specialty foods, has completed the sale of the company to The Chef's Warehouse. The investment banking group of Carl Marks Advisory Group LLC acted as exclusive financial advisor to Harry Wils, providing sell-side advisory services throughout the transaction.
Harry Wils, a family-owned business for nearly 90 years, was led for the past 40 years by president and CEO Steven Wils. Carl Marks provided strategic advice to the company for the past 10 years, assisting the business with its strategic growth initiatives and ultimately with its sale. The firm assisted Harry Wils in negotiating a favorable asset purchase agreement, as well as with the transition of operations to The Chef's Warehouse.
"Harry Wils was a strong, growing company from beginning to end, which made it an attractive acquisition candidate," noted Warren H. Feder, partner at Carl Marks. "The Chef's Warehouse gains additional market share and further positions itself as a leading specialty foods company both in the New York Metro area and nationwide. In turn, the owner of Harry Wils achieves liquidity from a successful business at a time that is right for him. It has been a positive experience for both companies."
Steven Wils said Carl Marks provided invaluable guidance during the sale of the family business to The Chef's Warehouse. "We are extremely pleased with the results," Wils said. "We know The Chef's Warehouse will continue to serve our customers and vendors well. Having Carl Marks involved helped facilitate amicable negotiations and a smooth transition."
About Carl Marks Advisory Group LLC and Carl Marks Securities LLC
Carl Marks Advisory Group LLC, with offices in New York, Vienna, Va., Bedminster, N.J., and Charlotte, N.C., provides a wide array of investment banking and financial, operational and real estate advisory services to the middle market, including mergers and acquisitions advice, sourcing of capital, financial restructuring plans, strategic business assessments, improvement plans and interim management. Carl Marks Advisory Group is the recipient of the 2010 Turnaround Management Association's Turnaround of the Year Award in the Large Company category, the 2011 M&A Advisor's Debt Financing Deal of the Year, and the 2011 Turnaround Atlas Awards Chapter 11 Reorganization of the Year – Middle Markets.
Carl Marks Securities LLC, based in New York, assists its clients in executing private placements of debt and equity. The firm is a member of FINRA and SIPC. Additional information about Carl Marks Advisory Group LLC and Carl Marks Securities LLC is available at www.carlmarks.com.
SOURCE Carl Marks Advisory Group LLC