Huron Capital Invests in RK Electric
RK Electric marks Huron Capital’s latest ExecFactor platform focused on mission-critical electrical services
DETROIT–(BUSINESS WIRE)–Leading middle-market private equity firm Huron Capital (“Huron”) announced today the launch of its latest facility services ExecFactor platform formed to execute a buy-and-build in the mission-critical, highly technical electrical services space. The launch coincides with Huron’s acquisition of RK Electric (“RK” or the “Company”), a leading non-union, full-service electrical contractor based in the San Francisco Bay Area. The Company is the cornerstone of Huron’s latest ExecFactor platform initiative in electrical services and will continue to be led locally by RK’s existing executive team, including President Raul Real, VP of Estimating Dan Yeggy and VP of Engineering Rich Skibinski. In addition to Huron’s fund investment, RK received a meaningful co-investment from Huron’s existing LP base to affect the transaction.
“We are excited to partner with Tom, Raul and the rest of the team to begin executing on a vision of becoming the industry leader and acquirer of choice for owners of service-oriented electrical companies across North America.”
Tom Bartolomei will become CEO of the overall electrical services platform, guiding strategy and expansion initiatives alongside RK’s existing management team, as well as hold primary responsibility for sourcing, integrating and leading future acquisitions for the platform. Mr. Bartolomei has over 30 years of industry experience, most recently serving as Chief Executive Officer of Shermco Industries (Irving, Texas); NAES Corporation (Issaquah, Washington) and Eco Power Solutions (Boston, Massachusetts).
“I am thrilled to be partnering with Huron Capital – they have a vision for building a leading electrical services company focused entirely on serving the complex needs of critical uptime environments,” said Tom. “By focusing on differentiated engineering, talent development and offering a broad suite of preventative maintenance, repair, inspection and compliance services, we will build upon the foundation that has made RK indispensable to blue chip customers for over 30 years.”
Based in Fremont, CA, RK is a best-in-class company with decades of experience serving commercial clients in highly technical and attractive end markets including semiconductor, biotechnology, EV and battery manufacturing, and higher education. The Company was established in 1985 and boasts a talented group of technicians across electrical and low voltage divisions capable of providing comprehensive engineering, design-build, retrofit, reoccurring services and other auxiliary services.
“Having been with RK Electric for over three decades, I am thrilled to see the progress we have made, the team we have and look forward to what we will achieve by working with Huron,” RK President Raul Real said. “Their knowledge and expertise gained from previous buy-and-builds within the complex facility services ecosystem will allow us to accelerate growth both organically and through acquisition with confidence.”
“RK Electric’s service-first culture and best-in-class training and safety programs combined with its long-term, embedded customer base make this a compelling cornerstone investment for our latest ExecFactor initiative,” said Brian Rassel, Partner and Facility Services Sector Captain with Huron. “We are excited to partner with Tom, Raul and the rest of the team to begin executing on a vision of becoming the industry leader and acquirer of choice for owners of service-oriented electrical companies across North America.”
About Huron Capital
Huron Capital brings a people-first and thematic approach to private equity investing in secularly relevant and fragmented sectors of the North American facility and infrastructure services and professional services industries. We pride ourselves on an unwavering 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 270 acquisitions since the firm’s inception.
ExecFactor® is Huron Capital’s proprietary, thematic investment strategy where we underwrite an industry and partner with an executive to deploy our buy-and-build investment model. This strategy brings together our sector focus, deep industry relationships, committed capital and repeatable buy-and-build approach to create a new platform investment.
Recently closed ExecFactor® investments include ExperiGreen, a provider of residential lawn care services and Exigent, a provider of mission-critical repair, maintenance, and replacement services to large facility operations for education, healthcare, industrial, government, and commercial customers.
Recently exited ExecFactor® investments include Sciens Building Solutions, a prominent full-service commercial fire and life safety company; Pueblo Mechanical & Controls, a premier commercial HVAC and plumbing services company; and Highstreet Insurance Partners, a full-service insurance brokerage platform.
About RK Electric
Based in Fremont, CA, RK Electric is a full-service, engineering-led electronical contractor serving highly technical end markets including semiconductor, biotechnology, EV and battery manufacturing, and higher education. Its service-first business model is focused on low voltage services and preventative maintenance in critical uptime environments with complex load requirements.
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.