Harris Williams & Co. Advises Slime in its Sale to ITW

Harris Williams & Co. announces that Accessories Marketing, Inc (d/b/a Slime), a portfolio company of Friend Skoler & Co., Inc. (FSC), has been acquired by Illinois Tool Works Inc. (ITW, NYSE: ITW). The transaction closed on April 1, 2010. Harris Williams & Co. acted as the exclusive advisor to Slime. The transaction was led by Pat Crocker, Craig Lawson and Eric Reimers from the firm’s San Francisco office, and John Neuner and Jershon Jones from the firm’s Richmond office.

"Slime is a brand that has resonated with automotive and outdoor recreation consumers for two decades,” said Mr. Crocker. "This transaction will allow Slime to utilize the global presence and resources of ITW to continue expanding Slime’s position as the leader in tire care solutions.”

Slime, headquartered in Grover Beach, CA, is the leading manufacturer and marketer of Slime branded products and accessories for the tire care solutions market. Slime’s products include its flagship green Slime tire sealants, as well as a complete line of tire care products and accessories that include portable air compressors, tire gauges, flat tire repair kits, self-healing tire tubes and numerous other tire care accessories. Since its founding in 1990, Slime has emerged as the most dynamic and trusted brand in the industry, earning a clear leadership position in the flat tire prevention and repair category.

FSC, headquartered in Saddle Brook, NJ, is a private equity firm that invests in leading middle market companies. The firm typically invests between $10 million and $40 million of equity per transaction and manages Friend Skoler Equity Investors, L.P., a private equity fund with $231 million of capital commitments. A key element of the fund’s strategy is to leverage the firm’s extensive experience as investors in and operators of middle market companies.

With $13.9 billion in 2009 revenues, ITW is a multinational manufacturer of a diversified range of value-adding industrial products and equipment. The company consists of approximately 840 business units in 57 countries and employs approximately 59,000 people.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier middle market advisor with a two decade legacy of sell side excellence serving clients worldwide. The firm is focused exclusively on the middle market providing sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, an Appointed Representative of Sturgeon Ventures LLP, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business in the U.S. and Europe, respectively.

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