Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Sale to Harbour Group
Baird served as the lead financial advisor to Cleaver-Brooks, Inc.
Cleaver-Brooks, Inc. (“Cleaver-Brooks” or the “Company”), a portfolio company of Wellspring Capital Management, LLC, recently completed its sale to Harbour Group. Terms of the transaction were not disclosed.
Cleaver-Brooks is a leading provider of fully-integrated boiler systems and energy management solutions for a wide range of commercial, institutional and industrial applications. The Company offers a comprehensive range of specialized hot water and steam generation products designed to maximize energy efficiency and reliability while minimizing emissions. The Company operates on a global basis and sells into more than 50 countries. Cleaver-Brooks is headquartered in Thomasville, Georgia.
Wellspring Capital Management is a leading middle-market private equity firm that manages more than $3 billion of private equity capital. Wellspring Capital Management was founded in 1995 and is based in New York, New York.
Harbour Group is a privately owned operating company based in St. Louis, Missouri. Harbour Group and its companies are engaged in manufacturing, distribution and specialty services in multiple industries. Since its founding in 1976, Harbour Group has acquired 171 companies in 36 different industries.