DETROIT, Nov. 18, 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 Niemeyer Brothers Plumbing, Inc. ("Niemeyer"). Financial terms of the transaction were not disclosed.
Founded in 1986, Niemeyer is a full-service provider of commercial plumbing services throughout the greater Phoenix area. Niemeyer's suite of commercial capabilities, including expertise in installation and maintenance, will further enhance Pueblo's service offerings for new and existing customers while growing its staff of professional, qualified technicians. Current company President Rick Niemeyer and Vice President John Niemeyer will maintain their roles within the company to continue to lead and support the plumbing segment of the business.
"The addition of Niemeyer establishes plumbing as an important new service line for Pueblo," said Pueblo CEO Dan Bueschel. "Niemeyer is a proven provider of commercial plumbing services with a dedicated commitment to quality and performance. Rick and John's project management experience will be instrumental as we continue to pursue strong, steady growth in our business, and we are thrilled that they will lead the plumbing segment of Pueblo."
Huron Capital partnered with Dan Bueschel to acquire Pueblo in December 2017 and pursue an ExecFactor® buy-and-build strategy in the commercial HVAC market in the Southwestern United States. This is Pueblo's sixth acquisition and adds an important service line extension that will benefit customer experience and service.
"The Niemeyers have set the standard for excellence in superior workmanship and unparalleled customer service throughout the greater Phoenix area over the past 33 years," said Huron Capital Vice President Danielle Lalli. "The addition of Niemeyer will provide Dan and his team with resources and expertise that we expect will help Pueblo to continue to grow as we gain new customers and offer more services to existing customers.
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.
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.
Brent Snavely, Director
Lambert & Co.
SOURCE Huron Capital