Detroit-based Huron Capital, a private equity firm, today announced the firm has completed seven acquisitions, three exits, and one dividend recap since the start of the year across three different industry sectors: business services, consumer, and specialty manufacturing.
The acquisitions include two deals from Huron Capital’s portfolio company, Dallas-based Good Sportsman Marketing (GSM), which recently acquired Scent Web from Beaverton, Mich.-based A-Way Hunting Products Inc. GSM also acquired Eugene, Ore.-based Bullseye Camera Systems (“Bullseye”).
Scent Web has a patented delivery mechanism for dispensing deer scent attractants, while Bullseye designs, assembles, and distributes target shooting camera systems. Using Bullseye’s camera system and its proprietary software application, shooters can view targets from long distances from mobile device as well as utilize several interactive features of the software for a unique experience at the range.
Other deals include Huron Capital’s portfolio company XLerate Group (“XLerate”), which recently acquired Corry, Penn.-based Corry Auto Dealers Exchange (“CADE”). The deal marks the fifth add-on acquisition for XLerate in partnership with Huron Capital since May 2015.
Originally commencing operations in 1946, CADE has been owned and operated by the Swift family for the past 36 years. CADE services dealers and consignors in six states, and is XLerate’s first Pennsylvania-based auction. XLerate now has 18 auto auction sites under 10 brands in California, Florida, Michigan, Pennsylvania, South Carolina, Texas, and Wisconsin.
The private equity firm also recently announced its information technology solutions platform, InterVision Systems (“InterVision”), has merged with Chesterfield, Mo.-based Netelligent Corp. (“Netelligent”). It is the first business expansion for InterVision since creating the platform investment with Huron Capital in May 2016.
Started as a value-added reseller of Cisco voice products in 2003, Netelligent has expanded to become a leading provider of hybrid IT solutions delivering on-premise and hosted technologies ranging from managed services, security, storage and collaboration to private cloud. The company operates out of three locations: Chesterfield, Mo., St. Louis, Mo., and Boulder, Colo.
“Huron Capital has maintained its strategic approach and pushed forward in a market where valuations are high,” says Brian Demkowicz, managing partner of Huron Capital. “Our team works hard, and the firm’s message of majority or minority equity investments continues to resonate with business owners across the USA and Canada.”
The firm’s three exits included Victoria Fine Foods, Olon Products, and LeadingResponse.
Victoria is a producer and marketer of specialty Italian food products based in Brooklyn. Their products include natural pasta sauces, Italian condiments, and other Italian products. Victoria was sold to a strategic buyer.
Olon Products, based in Georgetown, Ont., designs and manufactures drawer components, profile wrapped moldings, edge treatments, and decorative laminate products for the North American furniture, residential remodeling and cabinet-making industries. The company was sold to a family office investor.
Tampa, Fla.-based LeadingResponse provides customer acquisition marketing services for clients in the financial services, legal insurance, healthcare, and other vertical markets. The company was sold to a private equity group.
Huron Capital was also named one of the Top 50 Middle Market Private Equity firms by Bauer Rock Media Group, as well as “Dealmaker of the Year” by the Association for Corporate Growth Detroit chapter once again. Matt Hare, Huron Capital’s vice president, was also the recipient of ACG’s “Rising Star” award.