CHICAGO, November 4, 2019 – Mesirow Financial acted as the exclusive financial advisor to Harris & Harris, Ltd. (“Harris & Harris”, the “Company”) on its investment from Clarion Capital Partners, LLC (“Clarion”).

Headquartered in Chicago, Illinois, Harris & Harris is a leader in accounts receivable management and customer care solutions. The partnership with Clarion will enable Harris & Harris to expand its service offerings and to make investments in its employees, compliance and technology infrastructure. These investments allow the Company to deliver more value to its clients. Additionally, Clarion and Harris & Harris will seek M&A opportunities to expand the Company geographically and to add new services.

"When my father founded the business more than 50 years ago, he said that the road to success for a business is to focus on people, both at our clients and with our employees,” said Arnie Harris, CEO of Harris & Harris. “As we considered potential investors, our focus on people brought us to a partnership with Clarion which will allow us to continue the success we’ve demonstrated over the last 50 years. Clarion’s approach to partnership and its long-term focus aligns perfectly with the future we see for Harris & Harris.” Dave Harris, co-owner and executive vice president, stated “Mesirow’s expert guidance, knowledge of the sector and deal insights were invaluable in finding the right partner to support Harris & Harris’ next phase of growth.”

Jon Haas, a partner at Clarion commented, "Harris & Harris is a leader in its core government, healthcare and utility markets, and has an exciting opportunity to grow organically within those segments. Clients in those segments require a high standard from their accounts receivable management and business process outsourcing providers, and we believe Harris & Harris is unmatched in its integrity, client service and performance.”

"We are honored to have represented Harris & Harris throughout the transaction process," said Jeff Golman, vice chairman of Mesirow Financial. He added, "We believe that Clarion Capital is an ideal partner to support Harris & Harris’ growth objectives and will enable the Company to continue providing exceptional customer care solutions and service to its customers."

The transaction represents another successful business services assignment completed by Mesirow Financial's Investment Banking group.

About Harris & Harris

Harris & Harris is an accounts receivable management and customer care firm, providing first-party and third-party debt collection, third party liability and other complementary services through advanced onshore call-centers.  Harris & Harris is headquartered in Chicago, Illinois.  Additional information on Harris & Harris can be found at www.harriscollect.com. 

About Clarion Capital Partners, LLC

Clarion Capital Partners is a New York based private equity firm that focuses on making equity investments in lower middle market growth companies. Clarion’s industry focus includes Business & Healthcare Services, Specialty Financial Services, Media, Entertainment & Technology and Consumer & Retail.  Additional information on Clarion can be found at www.clarion-capital.com.

About Mesirow Financial

Mesirow Financial is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, we are committed to helping our institutional, corporate and individual clients achieve their objectives. Our professionals are inspired by an entrepreneurial desire to develop tailored solutions designed to deliver measurable results. To learn more, please visit mesirowfinancial.com.

Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow Financial investment vehicle(s). Mesirow Financial, Inc. is not affiliated with Harris & Harris, Clarion Capital Partners , or their affiliates. Past performance is not indicative of future results. Mesirow Financial refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.