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July 12, 2004
Huron Capital Partners Acquires Leading Mobility Products Company
Huron Is On A Roll - American Mobility Represents Tenth Acquisition
Detroit, MI – July 12, 2004 // Huron Capital Partners announced today that, in partnership with management, it has made a significant investment in American Mobility and Guest Services, Inc. American Mobility owns one of the nation’s leading providers of fleet leasing operations of strollers, wheelchairs, electronically-controlled convenience vehicles (“ECVs”) and other guest amenities for the theme park, amusement park, zoo, museum and shopping mall industries. The company provides comprehensive consumer rental and guest amenities services for many of the most prominent venues in the United States, Canada and the United Kingdom.
Peter Mogk, a Partner at Huron, stated, “The American Mobility transaction fits perfectly with our group. The company is a market leader with proven management, strong financial characteristics and excellent growth opportunities. We are looking forward to working with management in taking the company to the next level.” Huron expects to provide significant capital resources and strong operational support to position the company to take advantage of tremendous growth opportunities for mobility products and other guest services in theme park and venue-based industries.
Huron Capital is one of the leading private equity firms investing in lower middle-market companies. The firm typically invests between $5 million and $20 million in equity to sponsor management buyouts, recapitalizations, and corporate spin-offs of well-positioned companies having revenues up to $200 million. Huron’s strategy is to partner with strong management teams in acquiring niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth.
Huron Capital has acquired 10 companies through its current fund and has achieved top-quartile returns for its limited partners. The fund is approaching the fully-committed level and Huron expects to formally begin fundraising efforts for its next fund later this year with a target size of $150 million.
For Further Information, Contact:
Peter Mogk, Partner
(313) 496-1056 | pmogk@huroncapital.com