Detroit’s Huron Capital, a lower-middle-market private equity firm, today announced its partnership with San Francisco’s Salt Creek Capital to jointly invest in Pacific Shoring, a manufacturer of underground and trench shoring assemblies and safety equipment based in Santa Rosa, Calif.
Pacific Shoring was founded in 2005 to provide aluminum trench safety equipment to the rental equipment industry. The company engineers and manufactures hydraulic aluminum shoring equipment designed to support trench walls during excavation and construction.
Demand for the company’s equipment is growing.
“We are thrilled to collaborate with Huron Capital to offer strategic and operational resources in support of Pacific Shoring’s continued growth to the benefit of our customers and employees,” says Bruce Russell, executive partner at Salt Creek. “Together, we believe we will be able to build on the company’s strong market presence and ability to quickly fulfill customer orders to help the company grow.”
Russell has more than 25 years of experience in manufacturing, leadership, and the construction equipment industry and will serve as CEO. He was previously CEO of a private equity-backed portfolio company.
Maria Novoa, vice president of Pacific Shoring, will remain in her current role, overseeing sales, finance, and administrative functions. Bob Pitts, current CEO and founder, is retiring.
“Pacific Shoring is an exciting investment for us because the company makes products that protect construction workers and, at times, can even save lives,” says Doug Sutton, partner at Huron Capital and head of Huron Flex Equity. “We look forward to exploring additional product categories and acquisitions as we work with Bruce and the talented, experienced team at Salt Creek.”
Huron Flex Equity has completed non-control equity investments in four companies and continues to evaluate opportunities.
Huron Capital has established six investment funds totaling about $1.8 billion in capital and has completed more than 175 transactions throughout North America. Its portfolio companies have had aggregate annual revenues exceeding $3 billion, 15,000 employees, and operated more than 325 facilities.
Salt Creek Capital is a private equity firm that partners with operating executives to acquire companies with up to $100 million in revenue.