Cascadia Capital (“Cascadia”), an investment bank serving middle-market clients globally, today announced it acted as the exclusive financial advisor to F.W. Spencer & Son, Inc. (“F.W. Spencer”) in its sale to Harris Contracting Company (“Harris”).
F.W. Spencer is a leading full-service design, fabrication and installation mechanical contractor serving the San Francisco Bay Area. Founded in 1903, F.W. Spencer has been family-owned for four generations, and is a well-established, highly-regarded mechanical contractor in the Bay Area. Landmarks where F.W. Spencer has provided its services include the Bay Bridge, Levi’s Stadium, AT&T Park, among many others.
Harris is a leading national mechanical contractor that offers design, engineering, fabrication and installation services. It is headquartered in St. Paul, Minnesota with 11 satellite offices and over 2,000 employees nationwide. With the acquisition of F.W. Spencer, Harris has broadened its geographic presence to include the Bay Area.
“Advising the Spencer family on this transaction was an honor and a pleasure. It was important to the family to transition the company and its valued employees to a similarly constituted organization and Harris hit the mark on all fronts,” noted Jamie Boyd, Managing Director at Cascadia Capital.
“Cascadia positioned F.W. Spencer’s history and reputation in the Bay Area to drive interest among several strategic and financial buyers. The sale process resulted in a very positive outcome for our client, and expansion into a new geography with a strong presence for the buyer,” added Boyd.