DETROIT, Aug. 5, 2019 /PRNewswire/ -- 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 Innovative Mechanical Systems ("IMS"). Financial terms of the transaction were not disclosed.
IMS provides HVAC installation, replacement, and preventative maintenance services for commercial clients in the Phoenix area. IMS has a suite of capabilities that will help Pueblo better service its new and existing customers and boost its staff of professional, qualified technicians.
"We believe IMS will be another great addition to the Pueblo family," said Pueblo CEO Dan Bueschel. "IMS is a proven installer of commercial HVAC systems and has a roster of experienced technicians as well as a strong customer base. We look forward to continuing IMS' legacy of providing the highest quality services to those clients and offering the benefits of our growing organization to continue to expand customer relationships."
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. This is the fifth add-on acquisition completed by Pueblo.
"IMS has established itself as a provider of high-quality HVAC systems and services," said Huron Capital Partner Scott Hauncher. "We are confident that Dan Bueschel and his team will be able to continue providing the high level of service that IMS customers have grown to rely on while enabling Pueblo to continue to accelerate its track record of rapid growth."
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® and buy-and-build investment models. We prefer complex situations where we believe we can help companies reach their full potential by combining our operational and strategic resources, substantial capital base, and transaction experience with seasoned operating executives. Over the past two decades, Huron Capital has successfully established six investment funds totaling approximately $1.8 billion in capital and has completed over 175 transactions throughout North America. Huron Capital portfolio companies have had aggregate annual revenues exceeding $3.0 billion, 15,000 employees and operated over 325 facilities. Huron Capital targets both control and non-control equity stakes in fundamentally sound companies that the firm believes can benefit from its operational approach to creating value. These transactions typically take the form of equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. 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.
About Innovative Mechanical Systems
Phoenix-based Innovative Mechanical Systems installs and maintains commercial HVAC systems. The company is dedicated to providing a customer friendly one-stop shop for property and facility managers trying to keep up with the rigors of maintaining and operating a commercial facility. Services include commercial HVAC service, packaged rooftop units, chillers, cooling towers, boilers, mechanical piping, controls, low temperature refrigeration and preventative maintenance. For more information, please visit: http://www.ims-az.com/
Brent Snavely, Director
Lambert & Co.
SOURCE Huron Capital