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Strong Fourth Quarter Caps Record Year for Huron Capital
Detroit, MI – February 2, 2016 – Huron Capital Partners LLC (“Huron Capital”) today announced 2015 was the most active in the firm’s 17-year history, marked by strong exits in the fourth quarter and record transactions for the year. Huron completed 25 transactions during the year spanning 19 acquisitions in 13 different states (including four in its home state of Michigan) and two Canadian provinces. The firm completed two exits and three new platform investments in December alone.
Huron Capital exited its investment in Jensen Hughes, a provider of fire protection engineering and consulting services, in December 2015. Huron Capital first invested in the company in 2011, as part of an ExecFactor® initiative in the engineering services sector. Since that time, annual revenue grew from $56 million to over $175 million and the number of employees quadrupled. In partnership with Huron Capital, Jensen Hughes completed nine strategic add-on acquisitions and evolved into a global leader in specialty engineering services with 49 offices and over 800 employees across the globe.
Also in December, Huron Capital sold its interest in Optimum Plastics, a manufacturer of cast extruded and blown films. Huron Capital first invested in Optimum in 2012, as part of an ExecFactor® initiative in the specialty chemicals and films market. From that time until exit annual revenue grew from $45 million to over $100 million and the number of employees grew from 66 to 145.
December was a record month for Huron Capital in terms of new platform investments, with three closings in the final two weeks of the year. These included National Paint Industries (which was acquired through Huron’s new ExecFactor® platform, Valentus Specialty Chemicals), Drake Automotive Group and Earnest Bros. Logistics.
In addition to deal closings in 2015, Huron Capital recorded a strong year in other ways. Huron Capital executives were featured speakers, moderators or panelists at over 50 different industry events throughout the year, the firm received seven industry awards, and the firm grew its staff by 10 percent.
“Deal flow and deal execution are team sports at Huron Capital and we had a record number of wins in 2015,” said Managing Partner Brian Demkowicz. “The results – from platform investments to add-ons to exits – speak for themselves and I’m grateful for the tireless work of our entire team to make it happen. We’re starting off 2016 on a strong pace and hope to build on this momentum for another breakout year.”
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.
