- Pueblo completes the acquisition of CFM Mechanical LLC and Newgaard Mechanical Inc.
- The addition to two more buyouts comes post the purchase of Commercial Air in December last year.
Private equity firm Huron Capital has reportedly announced that Pueblo Mechanical & Controls – its HVAC installation, retrofit & repair services platform has completed its second and third add-on acquisitions. The two additional businesses, namely CFM Mechanical LLC and Newgaard Mechanical Inc., follow the takeover of Commercial Air, which was acquired by the company in December 2018.
The Chandler-based Newgaard is renowned for designing, installing, and servicing HVAC systems across a slew of end-use domains such as the commercial office, industrial, education, transportation, and hospitality sectors. The company also provides a full service suite inclusive of mechanical system installation, fabrication, plumbing, controls, maintenance, and piping. Newgaard’s system design expertise and staff of experienced technicians are bound to enhance Pueblo’s capacity and capability to design, construct, and maintain complex systems for customers across Arizona, sources claim.
The acquisition of the Phoenix-based CFM Mechanical on the other hand, is touted to widen Pueblo’s service offering and resources in the expanding market of Arizona, given that the company is a market leader in HVAC solutions for tenant improvement customers. CFM also provides services, retrofitting, and installation of HVAC systems to the commercial properties industry in Arizona.
Scott Hauncher, Huron Capital Partner, claimed that with these two additional acquisitions, Pueblo now boasts of an annual revenue of over $100 million and is consequently one of the biggest, most varied HVAC service providers across Arizona. The company is rather thrilled with the progress Dan Bueschel (Pueblo CEO) has made ever since Huron Capital bought Pueblo, Hauncher affirms, adding that going ahead, the firm believes Pueblo to be rather well-positioned as Arizona’s leading HVAC services and solutions business.
As per credible sources, financial details of both these transactions have not been disclosed yet. The current owners of both the companies however, will continue to remain involved in its business operations.