DETROIT, MI — Leading middle-market private equity firm Huron Capital Partners (“Huron Capital”) announced today that its HVAC and plumbing installation, retrofit and repair services platform, Pueblo Mechanical & Controls (“Pueblo”), has acquired ProCraftMechanical (“ProCraft”).
ProCraft has been operating in the Denver area for more than 40 years and has a team of more than 75 employees that will join Pueblo. Headquartered in Broomfield, Colorado, ProCraft is an HVAC service provider focusing on HVAC installation, retrofit and service work primarily in education markets and also with commercial and industrial clients.
An Ideal Fit
“ProCraft represents an ideal fit for Pueblo’s business model and our strategy—a new market entrance in Colorado complemented by a strong management team to guide our entry into the Denver area,” said Dan Bueschel, CEO of Pueblo. “Our partnership with Huron Capital has been a huge growth driver for the business, through their ability to identify target markets that are critical for growth and to find the right partners to support Pueblo’s growth.”
The acquisition of ProCraft is Pueblo’s eighth add-on acquisition in the last 10 months and the 14th overall for the company. In 2017, Huron Capital acquired Pueblo with Bueschel to pursue an ExecFactor® buy-and-build strategy in the commercial HVAC and plumbing market across the Sun Belt and Rocky Mountain regions of the United States. ExecFactor® is Huron’s proprietary, thematic investment strategy where the firm underwrites an industry and partner with an executive to deploy our buy-and-build investment model.
“As Pueblo’s services have grown, identifying proprietary acquisition opportunities like ProCraft and expanding our presence in the Rocky Mountain region has been a core component of our growth strategy,” said Huron Capital Vice President, Cale Kaczmarek. “We’ve been working with Dan and making key acquisitions in critical markets to support Pueblo’s growth and we look forward to joining forces with the ProCraft team to provide the best mechanical and plumbing services in our market.”