Huron Capital’s Pueblo Mechanical & Controls ExecFactor® Platform Completes Fourth Add-on
DETROIT – May 20, 2019 – Leading lower-middle-market private equity firm Huron Capital announced today that its HVAC installation, retrofit and repair services ExecFactor® platform, Pueblo Mechanical & Controls (“Pueblo”), has acquired the Arizona operations of Westover Corporation (“Westover”). This transaction represents the fourth add-on acquisition completed by Pueblo.
Westover specializes in providing HVAC controls services to municipal, commercial and industrial customers. The company’s staff of skilled technicians will enhance Pueblo’s capacity and capabilities in designing, building and maintaining complex controls systems for customers across Arizona.
“We believe the Arizona operations of Westover represent a strong addition to the growing Pueblo business,” Pueblo CEO Dan Bueschel said. “Consistent with Pueblo’s values, this business is known for its trusted reputation and commitment to quality and excellent service delivery, and we look forward to bringing the benefits of our growing organization to all of our customers.”
Huron Capital partnered with Dan Bueschel and acquired Pueblo in December 2017 to pursue an ExecFactor® buy-and-build strategy in the commercial HVAC market in the Southwestern United States.
“Westover has a history of maintaining and growing long-term relationships with its customers,” Huron Capital Vice President Danielle Lalli said. “We are excited by the progress Dan Bueschel and his team have made since Huron Capital acquired Pueblo. Moving forward, we believe Pueblo is extremely well-positioned as Arizona’s market leading HVAC services and solutions business.”
Financial details of the transaction were not disclosed.
About Huron Capital
Based in Detroit, Huron Capital is an operationally-focused private equity firm 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. Celebrating its twentieth anniversary in 2019, Huron Capital has raised over $1.8 billion in capital through six committed private equity funds and invested in over 160 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’s sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit: www.huroncapital.com.
About Pueblo Mechanical & Controls
Pueblo Mechanical & Controls performs a broad offering of HVAC 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 15-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.
Denver-based Westover Corporation, founded in 1987, offers a full spectrum of building services to commercial, industrial and governmental clients. These services include HVAC controls, industrial process controls, HVAC mechanical construction / service and security systems. Westover is an industry leader providing “intelligent building” solutions and complete systems integration including HVAC, security, card access, badging, and digital recording. For more information, please visit: www.westover-usa.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.