Huron Capital's Exigent Group Expands With Premier Mechanical
Huron Capital's Exigent Group Expands With Premier Mechanical
DETROIT--Leading lower middle-market private equity firm Huron Capital announced that its portfolio company, The Exigent Group, along with its operating company, Smith-Boughan Mechanical, has made a significant move by acquiring Premier Mechanical.
This acquisition is an essential step in Exigent’s growth strategy, emphasizing its commitment to providing superior HVAC and mechanical services. Premier Mechanical operates in the commercial and industrial sectors and is based in Lima, Ohio. This new partnership is vital as it represents Exigent’s second venture into Northwest Ohio.
According to Peter van Niekerk, CEO of Exigent, this strategic partnership enhances their footprint in Ohio and the surrounding areas. “Premier brings exceptional technical expertise and a service-driven approach that will support sustainable growth and innovation for our organization,” he stated.
Exigent was initiated in 2022 under Huron’s buy-and-build ExecFactor investment strategy, which focuses on building a group of businesses within the service sector. The portfolio includes leading investments like Rampart Exterior Services, which specializes in commercial roofing and building exterior services, along with Criticore, known for its technical electrical services.
About Huron Capital
Founded in Detroit in 1999, Huron Capital has established itself as a trusted lower middle-market private equity firm. The firm is dedicated to partnering with skilled management teams to cultivate market-leading service companies. With a thematic, people-first approach, Huron Capital invests in mission-critical service companies across various sectors, including infrastructure, facilities, and residential services.
The firm seeks control investments in leading service businesses typically generating between $20 million and $200 million in revenue. Huron Capital takes pride in empowering its management partners to achieve substantial growth through professionalizing operations, improving service offerings, executing M&A strategies, and exploring new markets.
Over 25 years, Huron Capital has successfully acquired more than 290 companies through seven investment funds, managing over $2 billion in capital to benefit a diverse global institutional investor base. Utilizing the ExecFactor program, they follow a proactive and thesis-driven investment approach to identify promising management teams and investment opportunities.
About Exigent
Reston, Virginia-based Exigent was launched as part of Huron Capital’s ExecFactor initiative, emphasizing critical services in HVAC, plumbing, engineering, and energy efficiency. The company focuses on providing mechanical system repair, maintenance, and replacement services tailored for complex facility operations catering to healthcare, education, industrial, government, and other commercial entities.
The newly formed relationship with Premier Mechanical positions Exigent to better serve its customers, further solidifying its role as a key player in the HVAC industry. By enhancing its technical capabilities and customer service, Exigent can ensure sustainable growth and innovation in servicing its client base.
This acquisition not only signifies Exigent’s commitment to expanding its service offerings but also reflects an understanding of the increasing demand for reliable HVAC solutions in various sectors. As the company integrates Premier's expertise, it anticipates elevating the value offered to clients and stakeholders.
Frequently Asked Questions
Why did Huron Capital acquire Premier Mechanical?
The acquisition of Premier Mechanical was a strategic move to enhance Exigent's service offerings in the HVAC sector, focusing on commercial and industrial markets.
What services does Exigent provide?
Exigent offers critical HVAC, plumbing, engineering, and energy efficiency services, including repair, maintenance, and replacement for complex facility operations.
How does Huron Capital support its portfolio companies?
Huron Capital empowers its portfolio companies through operational resources, investment strategies, and a commitment to improving service delivery and driving growth.
What is the ExecFactor initiative?
ExecFactor is Huron Capital's investment strategy that focuses on building companies in the service sector through targeted acquisitions and growth initiatives.
Where is Premier Mechanical located?
Premier Mechanical is based in Lima, Ohio, and specializes in providing HVAC and mechanical services in commercial and industrial sectors.
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