DETROIT--(BUSINESS WIRE)--Leading middle-market private equity firm Huron Capital Partners (“Huron Capital”) announced today that its HVAC and plumbing installation, retrofit and repair services platform, Pueblo Mechanical & Controls (“Pueblo”), has acquired ProCraft Mechanical (“ProCraft”).
ProCraft has been operating in the Denver area for more than 40 years and has a team of more than 75 employees that will join Pueblo. Headquartered in Broomfield, Colorado, ProCraft is an HVAC service provider focusing on HVAC installation, retrofit and service work primarily in education markets and also with commercial and industrial clients.
“ProCraft represents an ideal fit for Pueblo’s business model and our strategy – a new market entrance in Colorado complemented by a strong management team to guide our entry into the Denver area,” said Dan Bueschel, CEO of Pueblo. “Our partnership with Huron Capital has been a huge growth driver for the business, through their ability to identify target markets that are critical for growth and to find the right partners to support Pueblo’s growth.”
The acquisition of ProCraft is Pueblo’s eighth add-on acquisition in the last 10 months and the 14th overall for the company. In 2017, Huron Capital acquired Pueblo with Bueschel to pursue an ExecFactor® buy-and-build strategy in the commercial HVAC and plumbing market across the Sun Belt and Rocky Mountain regions of the United States. ExecFactor® is Huron’s proprietary, thematic investment strategy where the firm underwrites an industry and partner with an executive to deploy our buy-and-build investment model.
“As Pueblo’s services have grown, identifying proprietary acquisition opportunities like ProCraft and expanding our presence in the Rocky Mountain region has been a core component of our growth strategy,” said Huron Capital Vice President, Cale Kaczmarek. “We’ve been working with Dan and making key acquisitions in critical markets to support Pueblo’s growth and we look forward to joining forces with the ProCraft team to provide the best mechanical and plumbing services in our market.”
About Huron Capital
Founded in Detroit in 1999, Huron Capital is an operationally focused private equity platform with a long history of growing middle market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. An early pioneer of the buy-and-build approach, Huron Capital has successfully established six private equity funds aggregating nearly $2.0 billion in committed capital and invested in over 250 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital invests control equity in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital focuses on niche segments within commercial & industrial services, professional services and the consumer services sectors. For more information, please visit: www.huroncapital.com.
About Pueblo Mechanical & Controls
Pueblo Mechanical & Controls performs a broad offering of HVAC and plumbing maintenance, replacement, retrofit, repair, and installation services for commercial facilities, school districts, governmental agencies, and municipalities throughout the southwest and Rocky Mountain regions. The company was founded in 2001 with a focus on delivering the highest-quality execution and customer service. Pueblo has an over 20-year history of consistently performing work while demonstrating honesty, dedication, and integrity, resulting in strong, long-lasting customer relationships. For more information, please visit: www.pueblo-mechanical.com.
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.