Detroit’s Huron Capital Creates HVAC Industry Platform With Acquisition of Pueblo Mechanical and Controls Inc.
Pueblo offers turnkey heating and cooling solutions for commercial use.
Photo Courtesy: Pueblo Mechanical and Controls Inc.
Detroit-based capital investment firm Huron Capital today announced the acquisition of Arizona-based Pueblo Mechanical and Controls Inc., in partnership with management and industry veteran Dan Bueschel.
Pueblo provides a variety of HVAC replacement, retrofit, and repair services for commercial facilities throughout Arizona. The company is seeking add-on acquisition opportunities as Huron Capital pursues a buy-and-build investment strategy. Pueblo looks to acquire additional companies in Texas, Colorado, New Mexico, and Utah.
Following the investment, Buseschel will become CEO. Steve Barry, who co-founded Pueblo in 2001 will remain a significant shareholder and continue to work with the company in an active business development role.
“Huron Capital has made a number of investments in business services companies like Pueblo, and we see a lot of potential here,” says Nick Barker, a partner at Huron Capital. “We view this as a fragmented market with plenty of opportunity for growth both organically and through acquisition, and with a well-established name and reputation, we think Pueblo is a great platform from which to build.”
Huron Capital is an operationally-focused private equity firm focused on growing lower middle market companies through a proprietary ExecFactor buy-and-build investment model. Founded in 1999, the company has raised more than $1.8 billion in capital through six committed private equity funds and invested in more than 140 companies.