Huron Capital’s Electrical Services Platform Criticore Acquires Jenco

Acquisition accelerates Criticore’s expansion by deploying Huron’s Execfactor® strategy within the commercial electrical services sector

Detroit – April 11, 2024 – Leading middle-market private equity firm Huron Capital (“Huron”) announced today that its portfolio company, Criticore (or the “Company”), has acquired Jenco Inc. (“Jenco”). Jenco represents Criticore’s second acquisition following the foundational investment in RK Electric (“RK”), which was completed in 2023 through Huron’s HCP Services Fund. Huron and Criticore leadership have developed the Company’s operational and management structure through Huron’s ExecFactor platform initiative, a proprietary thematic investment strategy it has deployed across sectors and geographies to develop industry-leading middle market companies.

This acquisition will support Criticore’s strategy to execute a buy-and-build within the mission-critical highly technical commercial electrical services sector. Jenco further supports Criticore’s ability to provide a variety of electrical renovation, repair, and maintenance services to customers across uptime-critical end markets such as semiconductor, EV battery, data centers, biotech, healthcare, industrial manufacturing, and higher education, among others.

“We are excited to partner with the Jenco team to continue our path towards becoming the leading provider of comprehensive electrical services, specializing in electrical and data systems that are critical for technically advanced facilities and that meet the needs of customers throughout the entire facility lifecycle,” said Tom Bartolomei, CEO of Criticore. “Jenco has developed a strong brand presence through its service-oriented culture, deep technical talent base, and unwavering commitment to safety that offers strong alignment with RK Electric’s capabilities and market leading position.”

Based in Scottsdale, Arizona, Jenco is a full-service, non-union electrical contractor serving a wide variety of technical end markets and facility types through a focus on customers operating in complex environments. Leveraging its 30-year reputation, Jenco delivers differentiated electrical retrofit, repair, service, and preventative maintenance services across the Greater Phoenix Area. Kelly Anderson, founder of Jenco, will continue in a leadership role as President of Jenco and will report to Tom Bartolomei alongside Raul Real, President of RK Electric.

“Huron and Tom’s deep experience in the broader facility services sector makes Criticore the ideal partner to support our next chapter of growth,” said Mr. Anderson. “The opportunity to be one of the foundational businesses in the Criticore platform is exciting – I am looking forward to leveraging the platform’s service-first culture and strategic vision to build upon the capabilities that have made Jenco indispensable to our customers over the past 30 years.”

“Criticore’s newest partnership with Jenco provides expansion into the highly attractive Phoenix / Scottsdale market, while leveraging Jenco’s leading position to drive expansion with customers across Criticore’s core end markets,” said Brian Rassel, Partner with Huron. “Jenco has developed long-term, embedded customer relationships with highly attractive customers, and we are thrilled to partner with Kelly and the rest of the team to begin executing on our shared vision to become the leading service-oriented electrical platform.”

Honigman LLP served as legal advisor and Moss Adams LLP served as financial diligence advisor to Criticore and Huron.

About Huron Capital

Huron Capital is a leading lower middle-market private equity firm focused on partnering with outstanding management teams to build leading service companies.  Through HCP Services, we bring a people-first and thematic approach to investing in mission-critical service companies in the infrastructure, facility and residential sectors where we have a long history of success, proven playbooks and extensive resources.  We seek to make control investments in leading service businesses with $20 million to $200 million in revenue.

With our operational resources, we empower our management partners to drive significant growth through initiatives such as professionalizing operations, improving service offerings, executing M&A strategies, and accessing new markets.  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, over the past 25 years we have acquired more than 275 companies through seven investment funds, managing over $2 billion in capital on behalf of a global institutional investor base. Through our proprietary ExecFactor® program, we utilize a proactive, thesis-driven investment process to identify the best potential management teams and investment opportunities in our core sectors.

About Criticore

Criticore, based in Dallas, Texas, is a full-service, engineering-led, non-union electrical services provider serving a diverse set of highly desirable end markets including semiconductor, EV battery, data centers, biotech, healthcare, industrial manufacturing, and higher education. Its service-focused business model coupled with sophisticated project capabilities is focused comprehensive electrical services, specializing in electrical and data systems across critical uptime environments with demanding load requirements.

About ExecFactor®

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.


Jonathan Marino


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