Huron Capital has launched a new platform providing large facility repair, maintenance and replacement services with the buyout of American Combustion Industries.
The new platform, Exigent, will provide HVAC, plumbing, power, and energy efficiency services to large facility operators in the education, healthcare, industrial, government, and commercial sectors.
Huron partner Scott Hauncher said, “This is an opportunity to put our proven playbook to work again. We will be building a world class executive team, investing in people, training, technology, and equipment, instituting an M&A strategy, and driving integration to create what we believe will become a cohesive market leading business.”
The company’s first component, American Combustion Industries, is a critical system repair and maintenance business located in Maryland which focuses on boilers, chillers, plumbing and other complex technical services.
Huron, which specialises in fragmented sectors of the North American services industry, has raised almost $2bn over the years across six private equity funds. It collected $550m for Fund V in 2017, and $142m for its non-control Flex Fund a year later.
The firm recently sold a majority stake in commercial HVAC and plumbing services portfolio company Pueblo Mechanical & Controls to OMERS Private Equity.
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