Huron Capital in Detroit Expands Exigent Group via Acquisitions

Lower middle-market private equity firm Huron Capital in Detroit today announced its subsidiary, The Exigent Group, a provider of commercial HVAC, plumbing, and other mechanical system repair, maintenance, and replacement services, acquired Ambient Temperature Corp. (ATCO) and, in a separate transaction, Global Facility Solutions (GFS).
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ATCO trucks
Huron Capital in Detroit has announced its subsidiary, The Exigent Group, is growing in the eastern region of the U.S. through the acquisition of Ambient Temperature Corp. (ATCO) and Global Facility Solutions (GFS). // Photo courtesy of ATCO

Lower middle-market private equity firm Huron Capital in Detroit today announced its subsidiary, The Exigent Group, a provider of commercial HVAC, plumbing, and other mechanical system repair, maintenance, and replacement services, acquired Ambient Temperature Corp. (ATCO) and, in a separate transaction, Global Facility Solutions (GFS).

Financial details of the acquisitions were not released.

Reston, Va.-based Exigent was launched by Huron Capital in 2022 as an ExecFactor initiative focused on providing HVAC, plumbing, engineering, and energy efficiency services as well as other mechanical system repair, maintenance, and replacement services to complex facility operations for health care, education, industrial, government, and other commercial customers.

ATCO is a union mechanical services provider based in Newburyport, Mass., established in 1985, and serving markets throughout New England.

GFS, founded in 2006 and based in Columbia, Md., provides energy efficiency, sustainability, and engineering services to commercial clients across the United States.

“The addition of ATCO and GFS to Exigent’s growing portfolio of services and locations bolsters the company’s sustainability offerings and expands our geographic coverage,” says Scott Hauncher, a partner at Huron Capital. “(Our) deep experience in mission critical facility services combined with the outstanding leadership team led by CEO Peter van Niekerk has driven Exigent to become a market leader in the eastern United States.”

The acquisitions mark the fourth and fifth acquisitions for Exigent since its August 2022 launch. The presidents of ATCO and GFS will remain in their leadership roles and will be shareholders of Exigent going forward.

The ATCO acquisition marks Exigent’s first investment in the New England region, and both GFS and ATCO are part of a continuing expansion plan to service new markets, build out a base of top-tier clients, and expand offerings through several avenues, including the hiring of more skilled technicians.

“In looking to expand our business, I wanted a partner who could provide the resources and experience to help ATCO achieve its growth potential and who would be supportive of our culture and the strong union employee base that drives our success” says A Russ Stiles, president of ATCO.

“Joining forces with the Exigent platform will allow ATCO to grow organically and via acquisition throughout New England. I am excited to be an investor in Exigent and to continue running the business with the outstanding team we have built over the years.”

Robert Calloway, president and CEO of GFS, says the company “is proud to partner with a best-in-class mechanical services provider and expand our offerings to key clients and core markets supported by Exigent. It’s exciting to team with an established and experienced investor who understands how to drive organic growth while guiding overall firm strategy.”

Honigman in Detroit served as legal advisor and Moss Adams LLP served as financial diligence advisor to Huron and Exigent.

Huron Capital was founded in Detroit in 1999. It provides resources to help companies grow by professionalizing operations, improving service offerings, executing merger and acquisition strategies, and accessing new markets.