Huron Capital’s security services portfolio company Sciens Building Solutions has acquired W.W. Gay Fire & Integrated Systems.
W.W. Gay is a provider of fire detection and fire suppression systems, as well as data/security and electrical services. The company serves the healthcare, military/government, education/institution, commercial and industrial/utility end markets. W.W. Gay has been owned and operated since 1991 by Nandu Paryani who will continue to lead the business locally as a division of Sciens. W.W. Gay is based in Jacksonville (www.wwgfp.com).
In September 2015, Huron formed Sciens in partnership with Terry Heath, a former Siemens executive, to pursue a buy-and-build investment strategy in the fire detection and security services sector. Mr. Heath’s experience at Siemens included 18 years in the Building Technologies division, where he focused on building fire and security detection systems.
“I have known Terry Heath for many years as he is a very well-regarded executive in the fire industry,” said Mr. Paryani. “I am excited to work with him and the Huron Capital team as we look to grow W.W. Gay and the Sciens platform.”
Acquisition targets for San Francisco-based Sciens include US or Canadian companies that have a minimum of $15 million in annual revenues and are active in providing fire detection services to commercial buildings, universities, hospitals, and other large, non-residential buildings.
The buy of W.W. Gay is the second add-on completed by Sciens. In September 2016 the company acquired Boca Raton-based WSA Systems-Boca (WSA) which designs, installs and maintains fire detection and fire suppression systems in commercial, institutional, and government facilities. WSA was owned and operated by Brad Golub and Joe Del Pizzo, both of whom remain active in the business and WSA continues to operate in its regional market of Southern Florida as a division of Sciens.
Huron invests up to $70 million per transaction in middle market companies that have revenues up to $200 million and EBITDAs of $5 million or more. Sectors of interest include specialty manufacturing, business services, consumer goods & services, and healthcare. The firm is led by its senior partners Brian Demkowicz, Michael Beauregard, John Higgins and Peter Mogk. Huron was founded in 1999 and has offices in Detroit and Toronto (www.huroncapital.com).
Last month, Huron closed the firm’s fifth fund, The Huron Fund V, LP, with $550 million of capital commitments. The new fund closed at its hard cap and in excess of its $500 million target. The final close was reached after just three months of marketing and was oversubscribed with over $1 billion of demand.
© 2017 Private Equity Professional | February 22, 2017
