SunTx Capital Partners has sold its portfolio company, Huron, a supplier of tubular assemblies and other machined products for the automotive industry. SunTx Capital Partners invested in Huron in 2005.
“Huron is clearly an industry survivor and is well-positioned to continue growing the business. We sincerely thank Ned Fleming and the SunTx team for their support, particularly during the automotive industry’s most challenging economic times. SunTx has been an excellent partner; they encouraged us to think broadly and creatively and helped us strategically position the company. Their input complemented our operational acumen,” said Bob Bales, President of Huron.
Huron is a supplier of value-added tubular assemblies and precision components used in automotive engine, transmission, fuel and climate control systems. Customers of Huron include some of the world’s largest car manufacturers, as well as key automotive OEM and Tier I suppliers. Huron was founded in 1943 and is based in Lexington, MI (www.huroninc.com).
“The sale of Huron is a validation of our firm’s investment strategy of seeing value in mid-sized operating companies where others do not and patiently working with management to build a better company for its stakeholders, while creating value for our investors. SunTx has enjoyed supporting Huron’s successful transition from a supplier of commodity components to a supplier of strategic products to many of the auto industry’s biggest names. We have been an investor in Huron since 2005 and we wish the company continued success,” said Ned Fleming, Founder and Managing Partner of SunTx.
SunTx Capital Partners invests in middle-market manufacturing, distribution and service companies. The firm was founded in 2001 and currently has over $600 million of assets under management. SunTx is headquartered in Dallas (www.suntx.com).
Donnelly Penman & Partners (www.donnellypenman.com) served as financial advisor and Haynes and Boone served as legal counsel to SunTx for this transaction.
© 2013 PEPD • Private Equity’s Leading News Magazine • 2-28-13
