As exclusive financial advisor to Harrison’s Moving and Storage and Hampton Roads Port Services, CLA provided sell-side investment banking advisory services.
CLA Wealth Advisors represented Harrison’s Moving and Storage and Hampton Roads Port Services in their recent sale to Apple Moving. The transaction showcased CLA’s role as a trusted advisor throughout the business sale process, and its integrated and seamless capabilities.
Harrison’s was held in a trust administered by Wells Fargo’s Trust Department. Led by Dave Pieton of CLA’s investment banking group, the CLA team worked closely with Denise Wyatt, vice president, and the Wells Fargo closely held asset team during the transaction. Harrison’s operating assets, as well as two warehouses totalling more than 140,000 square feet of space, were included in the transaction.
At the conclusion of the sale, Wyatt said, “CLA’s level of interaction with the company’s CFO to ascertain and present an accurate financial picture of the business in the company’s offering materials was unprecedented when compared to other investment banking teams we have worked with in the past. CLA’s team was highly skilled in the M&A craft and they had the working knowledge to interact with our tax advisors and accountants in a truly collaborative manner. This significantly improved the efficiency of the transaction process, and ultimately led to a successful outcome.”
Virginia-based Harrison’s is a moving and storage company that focuses on businesses and families, with a concentration in the military arena. Established in 1956, the company prides itself in customizing the moving experience to meet their clients’ specific needs.
Hampton Roads Port Services, a subsidiary of Harrison’s, facilitates the import and export of household goods shipments for international freight forwarders, carriers, and transportation service providers.
Apple Moving, headquartered in Austin, Texas, started operations in 1991, and has nine locations across the United States. Apple helps businesses, families, and the military with their moving needs and provides local, long distance, and international moves.
About CLA
CLA exists to create opportunities for our clients, our people, and our communities through industry-focused wealth advisory, digital, audit, tax, consulting, and outsourcing services. With nearly 9,000 people, more than 130 U.S. locations, and a global vision, we promise to know you and help you. CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.