DETROIT–The middle-market private equity firm Huron Capital has created its latest ExecFactor platform, Exigent, which will provide a variety of mission-critical repair, maintenance, and replacement services to large facility operations for education, healthcare, industrial, government, and commercial customers. Exigent will focus on technical mechanical services in the built environment, such as HVAC, plumbing, power, and energy efficiency.
“We are excited about launching Exigent and building out our next platform in the commercial and industrial services industry,” said Huron Partner, Scott Hauncher. “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.”
Exigent’s launch coincides with the Company’s first partnership, American Combustion Industries Inc., a system repair and maintenance business located in Glenn Dale, Md., which focuses on boilers, chillers, plumbing and other complex, technical services within a wide range of facilities. ACI’s owner and president Tim Kirlin will maintain an equity stake in Exigent and will join the company’s growing executive team.
“Huron’s deep experience in the broader facility services sector makes it the ideal partner to support ACI’s next chapter of growth,” Kirlin said. “I am looking forward to expanding the suite of services we can provide to our customers by deploying Huron’s proven buy-and-build playbook to partner with complementary businesses that share ACI’s core values. This is something I have envisioned for the past few years, and I am excited to partner with Huron to bring it to life.”
ACI’s skilled union technicians and its model for providing high-quality, reliable and largely non-discretionary services focused on complex systems are some of the core attributes Exigent will look for in future business partners.
“I am personally excited to build on existing relationships and to be able to support this team as we create a new industry leader,” said Jim Mahoney, Huron managing partner. “Huron aims to build a lasting relationship with every founder we work with, and I have had the benefit of knowing Tim for many years. The business and culture that Tim has built at ACI is a great fit with how we look to build businesses at Huron.”
Founded in Detroit in 1999, Huron partners with entrepreneurs and management teams, empowering their companies to new levels of excellence. We provide resources to help companies grow by professionalizing operations, improving service offerings, executing M&A strategies, and accessing new markets.
Huron Capital has managed over $1.8 billion on behalf of a global institutional investor base, showcased in over 250 acquisitions since the firm’s inception. ExecFactor is Huron’s proprietary, thematic investment strategy where Huron underwritse an industry and partners with an executive to deploy a build-and-build investment model.
Founded in 1976, ACI is a union mechanical service company serving customers throughout Washington D.C., Maryland, and Northern Virginia. The Company provides service, repair, maintenance, and retrofit installation of boilers, chillers, cooling towers, split systems, pumps and piping.
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