The CapStreet Group has acquired T.F. Hudgins, a manufacturer of engineered products and services primarily to process industries and third-party manufacturers.
T.F. Hudgins is a manufacturer of components used in gas compressors, centrifugal pumps and other machinery used at refining, petrochemical and gas processing facilities. The company also offers centrifugal filtration devices designed to increase the efficiency and longevity of heavy-duty diesel engines utilized in harsh operating environments, including trucking, mining, and enhanced oil and gas recovery technologies such as hydraulic fracturing. T.F. Hudgins was founded in 1947 and has just over 100 employees with operations in Houston (headquarters) and New Orleans as well as sales and distribution subsidiaries in Venezuela and Australia (www.tfhudgins.com).
“T.F. Hudgins’ business model is an excellent fit with CapStreet’s industry experience,” said Mike Young, a CapStreet partner. “The company and its management team bring a legacy of long-term relationships with some of the most respected customers in the industry. We are excited about this opportunity to help them build the business organically and through strategic acquisitions.”
CapStreet targets companies with EBITDA’s between $5 million and $15 million and works closely with the management of these companies to help build much larger and more profitable enterprises. Since founding in 1990, CapStreet has raised approximately $700 million of private equity, completed 34 portfolio company investments and completed more than 250 add-on acquisitions for these companies. The firm is based in Houston (www.capstreet.com).
“We are proud of our history of service, profitability, and industry leadership. Now is the ideal time to accelerate our growth, and we are excited to have a firm like CapStreet providing the financial resources and expertise in distribution, marketing and management to support our objectives,” said T.F. Hudgins President and CEO Ted Edwards.
© 2013 PEPD • Private Equity’s Leading News Magazine • 2-12-13