Huron Capital Partners, a Detroit-based middle-market private equity firm, today announced its Pueblo Mechanical and Controls HVAC and plumbing installation, retrofit, and repair services platform in Arizona has acquired ProCraft Mechanical in Broomfield, Colo.
ProCraft has been operating in the Denver area for 40-plus years and has a team of more than 75 employees that will join Pueblo. ProCraft is an HVAC service provider focusing on installation, retrofit, and service work primarily in education markets and also with commercial and industrial clients.
“ProCraft represents an ideal fit for Pueblo’s business model and our strategy — a new market entrance in Colorado complemented by a strong management team to guide our entry into the Denver area,” says Dan Bueschel, CEO of Pueblo. “Our partnership with Huron Capital has been a huge growth driver for the business, through their ability to identify target markets that are critical for growth and to find the right partners to support Pueblo’s growth.”
The acquisition of ProCraft is Pueblo’s eighth add-on acquisition in the last 10 months and the 14th overall for the company.
In 2017, Huron Capital acquired Pueblo with Bueschel to pursue an ExecFactor buy-and-build strategy in the commercial HVAC and plumbing market across the Sun Belt and Rocky Mountain regions of the United States. ExecFactor is Huron’s proprietary, thematic investment strategy where the firm underwrites an industry and partner with an executive to deploy our buy-and-build investment model.
“As Pueblo’s services have grown, identifying proprietary acquisition opportunities like ProCraft and expanding our presence in the Rocky Mountain region has been a core component of our growth strategy,” says Cale Kaczmarek, vice president of Huron Capital.
“We’ve been working with Dan and making key acquisitions in critical markets to support Pueblo’s growth and we look forward to joining forces with the ProCraft team to provide the best mechanical and plumbing services in our market.”