Morgan Stanley to Sell Sila Services to PE Arm at Goldman Sachs Alts
Investment funds managed by Morgan Stanley Capital Partners (MSCP) announced the sale of Sila Services to the private equity business at Goldman Sachs Alternatives. As part of the transaction, Sila management will continue to lead the company and retain a significant minority stake. Financial details of the transaction were not disclosed.
King of Prussia, PA-headquartered Sila is a residential HVAC, plumbing and electrical services provider operating across the U.S. Northeast, Midwest and Mid-Atlantic regions. MSCP had been an investor since 2021.
“Sila has cemented itself as a differentiated, high-growth business in the sector, and we have appreciated the opportunity to partner with the entire Sila team during this period of transformational growth,” said Adam Shaw, managing director and head of business services at MSCP. “We are extremely grateful for their hard work and dedication over the past few years.”
MSCP is a middle-market private equity platform established in 1986 and part of $1.6 trillion Morgan Stanley Investment Management. Sila was MSCP’s first investment in and now its first exit from the distributed field services sector, which has become a core sub-sector within its business services vertical.
William Blair acted as lead financial advisor to Sila, with co-advisory support from Robert W. Baird & Co. Debevoise & Plimpton LLP served as legal advisor to MSCP. Goldman Sachs & Co LLC served as exclusive financial advisor and Weil, Gotshal & Manges LLP served as legal counsel to Goldman Sachs.
