Huron Capital’s Pueblo Mechanical & Controls Expands into Rocky Mountain Region
DETROIT, Mich. (Jan. 6, 2022) — Leading middle-market private equity firm Huron Capital (“Huron”) announced today that its HVAC and plumbing installation, retrofit and repair services platform, Pueblo Mechanical & Controls (“Pueblo”), has acquired Rocky Mountain Mechanical (“RMM”).
RMM combines over 30 years of experience with the resources of one of the largest mechanical contracting companies in the state of Utah to provide its customers with superior mechanical contracting services. Based in South Salt Lake, RMM is a leading provider of plumbing, controls and HVAC installation and retrofit/repair services across Utah. The company has a talented technician base, quick and efficient emergency services, annual maintenance programs and the ability to execute complex installations for industrial and commercial customers.
Dan Bueschel, CEO of Pueblo, said, “The addition of RMM extends our company’s presence into a new geographical market, and allows us to help RMM expand its client base to larger, regional customers while continuing to maintain and grow services with their longtime customers across Utah. We are eager to work with RMM’s experienced management team – especially former owner Chad Heward – whose business values and goals mirror ours.”
“I am immensely proud of the company our team has built over more than three decades here in Utah. But the industry is changing, and with it so are our customer’s needs,” said Heward, who will continue to lead as President of the Rocky Mountain division. “By joining forces with Pueblo, we will have access to greater resources that will allow us to provide a broader range of services with larger geographic reach across the entire Rocky Mountain Region.”
The acquisition of RMM is Pueblo’s fourth add-on acquisition in six months and the tenth 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 and Rocky Mountain regions of the United States. ExecFactor® combines a CEO’s industry expertise with Huron Capital’s extensive investment experience and committed capital.
Scott Hauncher, Huron Capital Partner, said, “This acquisition positions Pueblo to grow both organically and through additional acquisitions. We acquired Pueblo Mechanical four years ago because we believed demand for HVAC repair and installation services would increase and the sector was ripe for consolidation. Since then, regional population growth, aging infrastructure and increased demand for cooling systems has driven demand for Pueblo’s services and we expect those industry trends will continue in 2022 and beyond.”
About Huron Capital
Founded in Detroit in 1999, Huron Capital (“Huron”) is an operationally focused private equity firm with a long history of growing middle-market companies through its proprietary ExecFactor® buy-and-build investment model. Huron prefers complex situations where it can help companies reach their full potential by combining its operational approach, substantial capital base, and transaction experience with seasoned operating executives. An early pioneer of the buy-and-build approach, Huron has successfully established six private equity funds aggregating nearly $2.0 billion in committed capital and invested in over 235 companies, and its portfolio companies have employed over 11,000 people throughout North America. The Huron 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 invests control equity in fundamentally sound companies that can benefit from the firm’s operational approach to creating value. Huron focuses on niche segments within the commercial & industrial services, professional services and 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.
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.