2022 Year-In-Review: Huron Capital’s Momentum Continues
Huron’s ExecFactor® Strategy Drives 2022 Transaction Momentum
ExecFactor is Huron’s proprietary, thematic investment strategy where we underwrite an industry and partner with an executive or team of executives to deploy our buy-and-build investment model in one of our core services sectors.
In 2021, Huron formed an internal team of investment professionals dedicated to managing and executing our ExecFactor strategy. ExecFactor is led by Mike Zukas, a 9-year veteran of the firm, and supported by Leah Ierardi, who joined Huron in September.
In 2017, we partnered with seasoned industry veteran Dan Bueschel to pursue an ExecFactor buy-and-build strategy in commercial HVAC and plumbing in the Sun Belt and Rocky Mountain regions of the United States.
During Huron’s investment, Pueblo made significant investments in people, technology, processes, and corporate infrastructure. These efforts propelled Pueblo to become a clear acquirer and partner of choice for founder-owned commercial HVAC businesses in target regions.
Over our five-year partnership, Pueblo completed 16 add-on acquisitions (including six in 2022 alone) increasing revenue and EBITDA greater than four-fold and transforming it from a single state HVAC operator to a leading super-regional provider of technical services in five states. Huron exited its investment in August 2022 to OMERS. Pueblo’s management team is well positioned to continue its growth strategy under OMERS ownership.
New Platform Investments
ExperiGreen and Exigent represent Huron’s latest platform investments. Both were developed under Huron’s ExecFactor strategy and represent an opportunity to leverage our proven playbook of professionalizing founder-owned businesses, readying them to scale through M&A.
ExperiGreen is a leading provider of residential lawn care services including fertilization, weed control, aeration, seeding, disease treatment, grub control, perimeter pest control and tree and shrub care. The company delivers its services through a network of branch locations in the Midwest and Southeast and is looking to transition from a regional player to a national player of scale through an accelerated M&A strategy.
Exigent is a provider of mission-critical repair, maintenance, and replacement services to large facility operations for education, healthcare, industrial, government, and commercial customers. The company focuses on highly technical mechanical services in the built environment such as HVAC, boiler, chiller, plumbing, power, and energy efficiency and is looking to expand through acquisition by partnering with other businesses providing high-quality, reliable and largely non-discretionary services focused on complex systems nationally.
2022 Marked Successful Launch of Our New Look
We’re the same 23-year-old firm, but with a fresh new look. We launched our new website this past summer.
Leveraging years of experience building services businesses, we have developed a keen awareness and understanding of secular trends and challenges in the services industry which help us identify attractive investment themes and niches within each of our sectors. This deep knowledge base allows us to move with speed and conviction when pursuing and diligencing investment opportunities.
Commercial & Industrial Services
Test, Inspection, Compliance, and Certification
Infrastructure and Utility Services
Industrial Technology and Automation Services
Transportation & Logistics
Financial and Insurance Services
About Huron Capital
Huron Capital brings a people-first and thematic approach to private equity investing in attractive and fragmented sectors of the North American services industry. We pride ourselves on an uncommon level of commitment to candor, trust, accountability, and transparency in our relationships with management teams, investors, advisors, and employees.
Founded in Detroit in 1999, we partner with entrepreneurs and management teams, empowering their companies to new levels of excellence. We provide resources to help companies grow by professionalizing operations, improving service offerings, executing M&A strategies, and accessing new markets.
Huron Capital has managed over $1.8 billion on behalf of a global institutional investor base. We fulfill our commitment to all stakeholders by employing a repeatable playbook to drive thoughtful value creation, showcased in over 250 acquisitions since the firm’s inception.
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.