Subsidiary of Detroit’s Huron Capital Expands in New Mexico

Huron Capital, a middle-market private equity firm based in Detroit, has announced its HVAC and plumbing installation, retrofit, and repair services platform, Pueblo Mechanical & Controls, has acquired Travers Mechanical Services.
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Pueblo Mechanical & Controls, the HVAC and plumbing subsidiary of Huron Capital, has acquired Travers Mechanical Services. // Stock Photo
Pueblo Mechanical & Controls, the HVAC and plumbing subsidiary of Huron Capital, has acquired Travers Mechanical Services. // Stock Photo

Huron Capital, a middle-market private equity firm based in Detroit, has announced its HVAC and plumbing installation, retrofit, and repair services platform, Pueblo Mechanical & Controls, has acquired Travers Mechanical Services.

Terms of the transaction were not disclosed.

Travers is based in Albuquerque, N.M., and provides HVAC and plumbing services that include maintenance, repair, and installation work with a team of approximately 40 employees. Mike Travers Jr., president, and Mike Youngman, vice president of operations, will remain with the business and maintain their leadership roles. Travers was founded in 2006 by Mike Travers Sr. and Mike Travers Jr.

“The addition of the Travers team is the latest move to ramp our services up in new markets and we’re thrilled to welcome them to the Pueblo family,” says Dan Bueschel, CEO of Pueblo. “Accelerating Pueblo’s M&A strategy in the last year has given us access to new markets that fit squarely in the company’s target demographics for growth and we’re looking forward to continuing our expansion in New Mexico.”

The acquisition of Travers is Pueblo’s seventh add-on acquisition in the last 10 months and the 13th overall for the company. Huron Capital acquired Pueblo with Bueschel in 2017 and have since executed 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.

“The last 12 months have given us an opportunity to accelerate growth organically and through M&A and we’re proud of the tremendous progress that Dan and Pueblo have made,” says Scott Hauncher, partner at Huron Capital. “Identifying opportunities like Travers and being able to access new markets is a core component of our growth strategy for Pueblo and we’re excited to work with Mike and Mike to grow the business.”

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