PNC Financial Moving Into Germany
PNC Financial Services reminded people this week that it does business internationally, announcing today that its Harris Williams & Co. subsidiary has just opened a new office in Frankfurt, Germany, under the management of Jeffery Perkins.
The company's new German location will focus on mergers and acquisitions work in Europe, and is PNC's second such foray into the European market in the past three years, following the Harris Williams branch opened in London three and a half years ago. The PNC subsidiary now has a total of eight offices open around the world, with a staff of 215 employees total.
Explaining the expansion, Harris Williams co-founder Chris Williams said in a statement that "while many other firms are scaling back, we believe now is the time to grow. Our firm has performed exceptionally well despite market turmoil and the expansion into Germany offers a tremendous opportunity for us to continue to build our platform."
In recent years, Harris Williams says it has advised on such deals as the sale of Cari-All Group to Germany-based buyer Wanzl Metallwarenfabrik GmbH; the sale of Seaboard Holdings to U.K.-based buyer The Weir Group PLC for $675 million; the sale of Tandus Group, to France-based buyer Tarkett Enterprises; the sale of Ukrop's Super Markets, to Netherlands-based buyer Royal Ahold; the sale of Cigars International, to Sweden-based buyer Swedish Match AB; and the sale of Graham-White Manufacturing Company, to France-based Faiveley Transport S.A., among others.
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