Huron Capital, the leading private equity firm based in Detroit, U.S., has reportedly announced that Pueblo Mechanical & Controls – which serves as a platform for the company’s HVAC replacement, repair, and retrofit services – has acquired Arizona-based Commercial Air, Inc. The acquisition is reportedly said to be a major addition to Pueblo’s portfolio as it intends to grow across the region.
As per credible sources, Commercial Air specializes in the design, installation, and maintenance of refrigeration, air conditioning, and heating systems across industries including hospitality, transportation, commercial office as well as education. The company’s team of skilled field technicians is anticipated to endow the combined company with one of the largest and best-trained technical service groups in Arizona.
Karl Thompson, Commercial Air’s President, was quoted saying that the company takes pride in joining Pueblo and looks forward to expanding its reach together. Pueblo’s proficiency in the HVAC industry and management resources are believed to be a brilliant fit with the company’s commercial service offerings, he added.
According to sources closely related with the development, the trusted services and diverse client base of Commercial Air represent a great regional and cultural fit that is likely to deepen the foothold of Pueblo in Arizona and support its strategy of expansion. Sources further claimed that Pueblo is excited about welcoming the add-on acquisition and will continue providing unique HVAC services to its customer base.
If reports are to be believed, Huron Capital had developed Pueblo in pursuit of a ‘buy-and-build’ strategy in the commercial market of HVAC in the southwestern region of the U.S. Alongside the Commercial Air acquisition, Pueblo is looking for more acquisition prospects in places including Colorado, Utah, New Mexico, and Texas, in a bid to accelerate growth.
Huron Capital, for the record, has raised more than $1.8 billion in capital funds and has invested in around 150 companies. Its portfolio companies have around 11,000 employees throughout North America.