Detroit’s Huron Capital, a lower-middle-market private equity firm, has announced its HVAC installation, retrofit, and repair services platform, Pueblo Mechanical and Controls in Arizona, has acquired Innovative Mechanical Systems, also in Arizona. Details of the transaction were not disclosed.
Innovative Mechanical provides HVAC (heating, ventilation, and air conditioning) installation, replacement and preventative maintenance services for commercial clients in the Phoenix area. This is the fifth add-on acquisition completed by Pueblo.
“We believe IMS will be another great addition to the Pueblo family,” says Dan Bueschel, CEO of Pueblo. “IMS is a proven installer of commercial HVAC systems and has a roster of experienced technicians as well as a strong customer base. We look forward to continuing IMS’s legacy of providing the highest quality services to those clients and offering the benefits of our growing organization to continue to expand customer relationships.”
Huron Capital partnered with Bueschel and acquired Pueblo in December 2017 to pursue an ExecFactor buy-and-build strategy in the commercial HVAC market in the southwestern U.S.
“IMS has established itself as a provider of high-quality HVAC systems and services,” says Scott Hauncher, a partner at Huron Capital. “We are confident that Dan Bueschel and his team will be able to continue providing the high level of service that IMS customers have grown to rely on while enabling Pueblo to continue to accelerate its track record of rapid growth.”
Huron Capital grows lower middle-market companies through its ExecFactor buy-and-build investment model. It combines its operational and strategic resources, capital base, and transaction experience with seasoned operating executives. It has established six investment funds over the past 20 years totaling about $1.8 billion in capital and has completed more than 175 transactions throughout North America.
