Huron Capital has added on to its HVAC services platform, Pueblo Mechanical & Controls, with the buy of Commercial Air, Inc.
Commercial Air designs, installs and maintains air conditioning, refrigeration and heating systems for a range of customers that operate in the commercial office, hospitality, education, and transportation sectors. The company was founded in 1996 and is headquartered in Phoenix (www.comairinc.com).
“We are proud to join Pueblo and look forward to growing together with one another,” said Karl Thompson, president of Commercial Air, who will remain with the company. “We believe Pueblo’s management resources and expertise in the HVAC industry are a great fit with our commercial service offerings and will enable us to continue to support our customers at the highest level.”
Huron launched Pueblo Mechanical in January 2018 in partnership with industry veteran Dan Bueschel. The company provides a full spectrum of HVAC replacement, retrofit and repair services primarily for facilities in the education, municipal, and healthcare end markets throughout Arizona. The company is headquartered in Tucson (www.pueblo-mechanical.com).
“Commercial Air is a strong company known for its reliable reputation and excellent service,” said Mr. Bueschel. “We look forward to uniting our management expertise and sales force with Commercial Air’s capabilities and leveraging our combined resources to support a wide variety of commercial and industrial HVAC services.”
The combination of Pueblo Mechanical and Commercial Air results in one of the larger HVAC services groups in Arizona. Pueblo continues to seek other add-on acquisition opportunities in Arizona and the surrounding states, including Texas, Colorado, New Mexico and Utah.
“We believe Commercial Air’s diverse client base and trusted services represent an excellent cultural and regional fit that will deepen Pueblo’s presence in Arizona and help support our expansion strategy,” said Danielle Lalli, a vice president at Huron Capital. “We are excited to welcome Commercial Air as the first addition to the Pueblo family and to continue to provide exceptional HVAC services to our customer base.”
Huron Capital is an operationally-focused private equity firm that makes control and non-control investments in companies with revenues of $20 million to $200 million and EBITDAs of $5 million or more. Sectors of interest include business services, consumer goods & services, and specialty industrials. Founded in 1999, Detroit-based Huron Capital has raised over $1.8 billion in capital through six private equity funds and invested in over 150 companies (www.huroncapital.com).
© 2019 Private Equity Professional | January 3, 2019
