Detroit, MI — Huron Capital Partners ("Huron Capital") has announced the successful closing of both a refinancing and an acquisition capital facility for its portfolio company, Pueblo Mechanical & Controls, LLC ("Pueblo" or the "Company") with financing provided by BlackRock Capital Investment Corp. ("BlackRock") and Deerpath Capital Management, LP ("Deerpath"). Legacy FocalPoint, now B. Riley Securities ("B. Riley"), served as exclusive financial advisor to Pueblo on the transaction.
Pueblo is a leading HVAC, controls and plumbing maintenance, replacement, retrofit, repair, and installation services provider for commercial, school districts, industrial and health care facilities, governmental agencies, and municipalities throughout Arizona, Texas, and Utah. The Company was founded in 2001 with a focus on delivering the highest quality execution and customer solutions. Pueblo has a 20-year history of consistently performing work while demonstrating honesty, dedication, and integrity, resulting in strong, long-lasting customer relationships.
"In addition to running a seamless process that produced very attractive terms within an expedited timeline, [B. Riley] facilitated a key partnership that fulfilled both our short- and long-term goals. We are delighted to work with BlackRock and Deerpath on this next chapter of growth and expansion for Pueblo," said Scott Hauncher, Partner at Huron Capital.
"Partnering Huron Capital, a long-term relationship of [B. Riley], with strong financing partners BlackRock and Deerpath, positions Pueblo for continued growth," said Thomas Mills, Managing Director. "By delivering early leverage reads, letters of support, or abbreviated market tests, [B. Riley] excels at improving sponsor competitiveness and speed to closing on new acquisitions or significant add-ons."
About Huron Capital Partners
Founded in Detroit in 1999, Huron Capital is an operationally-focused private equity firm with a long history of growing middle market companies. Huron Capital has successfully established six private equity funds aggregating nearly $2.0 billion in committed capital and invested in over 240 companies. Its investment strategy includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital invests control equity in fundamentally sound companies that can benefit from Huron's operational approach to creating value. Huron focuses on niche, secularly-relevant segments within the commercial and industrial services, professional services, and consumer services sectors. For more information, please visit huroncapital.com.
About BlackRock Capital Investment Corp.
BlackRock provides middle market companies with flexible financing solutions, including senior and junior secured, unsecured, and subordinated debt securities and loans, and equity securities. BlackRock's strategy is to provide capital to meet current and future needs across this spectrum, creating long-term partnerships with growing middle market companies. To learn more, visit blackrockbkcc.com.
About Deerpath Capital Management
Deerpath is a leading provider of customized, cash-flow based senior debt financing to lower-middle market companies across diverse industries. It approaches each investment as an opportunity to establish long-term relationships with private equity sponsors, management teams, and entrepreneurs. Deerpath leverages its extensive investment experience to offer flexible financing solutions to fit the needs of each company with competitive terms and structures. To learn more, visit deerpathcapital.com.
B. Riley Securities is a leading investment bank that provides a full suite of investment banking, corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring, and recapitalization. The firm is nationally recognized and highly ranked for its proprietary small-cap equity research. B. Riley Securities is a wholly owned subsidiary of B. Riley Financial. For more information, visit brileysecurities.com and focalpointllc.com.
Please contact Thomas Mills, Managing Director, at 312-508-5777, or Michael Del Pero, Managing Director, at 310-995-1831, for more information regarding this transaction.