Huron Capital has acquired Sunland Asphalt & Construction, an asphalt producer and paving services provider.
Sunland’s service capabilities include asphalt repairs, crack sealing, sealcoating, milling, pulverizing, reconstruction, paving, striping, earthwork and grading.
Sunland was founded in 1979 by CEO Doug DeClusin and is headquartered in Phoenix. The company also owns and operates several hot-mix asphalt plants with additional offices in Arizona, Colorado, Nevada and New Mexico.
“We are confident that the business expertise and outstanding network Huron Capital provides will lead to new and exciting growth opportunities for Sunland,” said Mr. DeClusin, who will remain CEO of the company. “Our storied industry reputation combined with Huron Capital’s track record of acquisitive success is sure to create attractive opportunities for our regional leaders across the country.”
“Over the past four decades, Doug and his team have built Sunland into an impressive company with more than 500 employees across four states,” said Jim Mahoney, a managing partner at Huron Capital. “We believe we can help Sunland continue to gain market share in new and existing markets by expanding both commercial and government customer relationships as well as expanding its reach through M&A. We look forward to pursuing these strategies together.”
Huron Capital 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 and services, and specialty industrials. Founded in 1999, the Detroit-based firm has raised over $1.8 billion in capital through six private equity funds and invested in over 200 companies.
© 2021 Private Equity Professional | January 15, 2021