Huron Capital, a lower-middle-market private equity firm in downtown Detroit, Wednesday announced its HVAC replacement, retrofit, and repair services platform, Arizona’s Pueblo Mechanical and Controls, has acquired Arizona’s Commercial Air Inc. Details of the transaction were not disclosed.
“Commercial Air is a strong company known for its reliable reputation and excellent service,” says Dan Bueschel, CEO of Pueblo. “We look forward to uniting our management expertise and sales force with Commercial Air’s capabilities and leveraging our combined resources to support a wide variety of commercial and industrial HVAC services.”
Commercial Air was founded in 1996 in Phoenix. It designs, installs, and maintains air conditioning, refrigeration, and heating systems across a range of industries.
“We are proud to join Pueblo and look forward to growing together with one another,” says Karl Thompson, president of Commercial Air, who will remain with the company. “We believe Pueblo’s management resources and expertise in the HVAC industry are a great fit with our commercial service offerings and will enable us to continue to support our customers at the highest level.”
Huron Capital formed Pueblo to pursue a buy-and-build strategy in the commercial HVAC market in the southwestern U.S. Pueblo is seeking other add-on acquisition opportunities in Arizona and the surrounding states.
Founded in 1999, Huron Capital has raised more than $1.8 billion in capital through six committed private equity funds and invested in more than 150 companies.