Huron Capital’s Pueblo Mechanical & Controls Continues Expansion in Texas with Acquisition
Purchase of Central Air & Heating Service Inc. is Pueblo’s second transaction this summer
DETROIT, Mich. (Aug. 31, 2021) — Leading lower-middle-market private equity firm Huron Capital Partners (“Huron Capital”) announced today that its HVAC and plumbing installation, retrofit and repair services platform, Pueblo Mechanical & Controls (“Pueblo”), has acquired Central Air & Heating Service Inc. (“CAHS”), in a transaction that expands the company’s presence into South Texas.
Family owned and operated since 1972, Harlingen, Texas-based CAHS provides schools, businesses and other institutions with the installation, repair and replacement of air conditioning and heating systems throughout the Rio Grande Valley.
“With the addition of CAHS, we will significantly expand our presence in Texas, providing us with the ability to serve the entire the state,” said Pueblo CEO, Dan Bueschel. “We are excited to welcome another strong team of industry experts into our growing company.”
Over the past 49 years, CAHS has developed many long-term relationships with commercial and industrial customers, school districts and colleges.
“I am proud of how far our company has come. Now, by joining forces with Pueblo, we will be able to expand our range of services and have access to greater resources,” said CAHS owner and President, Frank Matz, who will remain with the company and continue to oversee CAHS. “This transaction will benefit our customers and will provide exciting new opportunities for our employees to advance in their field.”
The acquisition of CAHS is the second transaction in Texas this summer for Pueblo and is the eighth overall for the company. Huron Capital acquired Pueblo in 2017 in a partnership with Bueschel to pursue an ExecFactor® buy-and-build strategy in the commercial HVAC and plumbing market in the Sun Belt region of the United States. ExecFactor® combines a CEO’s industry expertise with Huron Capital’s extensive investment experience and committed capital.
“We continue to see growing demand – especially across the Sun Belt – for HVAC services and Pueblo, with Dan’s leadership, has been growing rapidly to meet those needs,” said Huron Capital Partner, Scott Hauncher. “With the addition of Fort Worth-based Infinity Contractors in June and CAHS this month, Pueblo has quickly moved into Texas and will continue to explore a number of additional opportunities there and in other southern states.”
About Huron Capital
Founded in Detroit in 1999, Huron Capital is an operationally focused private equity platform with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. An early pioneer of the buy-and-build approach, Huron Capital has successfully established six private equity funds aggregating nearly $2.0 billion in committed capital and invested in over 220 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital targets both control and non-control equity stakes in fundamentally-sound companies that can benefit from the Firm’s operational approach to creating value. Huron Capital focuses on niche segments within commercial & industrial services, professional services and the consumer services sectors. For more information, please visit: www.huroncapital.com.
About Pueblo Mechanical & Controls
Pueblo Mechanical & Controls performs a broad offering of HVAC and plumbing maintenance, replacement, retrofit, repair, and installation services for commercial facilities, school districts, governmental agencies, and municipalities throughout Arizona. The company was founded in 2001 with a focus on delivering the highest-quality execution and customer service. Pueblo has an over 20-year history of consistently performing work while demonstrating honesty, dedication, and integrity, resulting in strong, long-lasting customer relationships. For more information, please visit: www.pueblo-mechanical.com.
About Central Air & Heating Service Inc.
Founded in 1972, Central Air & Heating Service Inc., has proudly served businesses throughout the Rio Grande Valley area with products and services unmatched in quality. Those services include HVAC systems for new buildings, renovations and emergency repairs. For more information, please visit: https://cahsinc.com/
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.