Huron Capital
From WikiCover
Huron Capital is a private equity firm investing in lower middle-market companies. The firm typically invests between $5 million and $20 million in equity to sponsor management buyouts, growth initiatives, recapitalizations, and corporate spin-offs of well-positioned companies having revenues up to $200 million. Through its operational approach, Huron's strategy is to partner with strong management teams at niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth.
In the past twelve months, Huron has completed acquisitions in the areas of pre-fabricated staircases and parts, ground passenger transportation services, specialty chemicals, laboratory testing services, building products and office furniture components. Huron was also active on the divestiture front, selling three portfolio companies and one division for a combined IRR in excess of 80%. Huron expects to continue its strong momentum in the second half of 2007 with three additional acquisitions in the third quarter.
Huron Capital manages $257 million through two private equity funds, The Huron Fund, L.P. ($72 million, 2000) and The Huron Fund II, L.P. ($185 million, 2005). Since its founding in 1999, Huron has acquired or invested in 28 companies and has generated a realized IRR exceeding 65% for its Limited Partners. Huron has committed over 60% of its latest fund and is aggressively seeking new investment opportunities.
On August 28, 2007, Huron Capital Partners announced that through its portfolio company, Quest Specialty Chemicals, it has acquired Zolatone Automotive. Zolatone will be managed under Quest's Automotive Aftermarket Unit, Matrix System Automotive Finishes (based in Walled Lake, MI) and relocate its operations to Quest facilities in Michigan and Wisconsin. Zolatone manufactures and markets high-performance acrylic sealers, base coats, top coats and other coatings to automotive refinish and paint distributors across the U.S. for sale to collision and body shops.
The acquisition marks the fifth specialty chemical company that Huron has acquired through its Quest platform, and thirtieth overall since the inception of the firm. Huron formed Quest in 2004 in partnership with specialty chemical industry executives Fred Quinn and Gerry Loftus, and long-time chemical industry investor Carol Bramson. Through a series of synergistic add-on acquisitions and significant organic growth, Quest revenue has grown four-fold during the past three years to over $80 million, making it one of the top twenty diversified coating companies in the U.S.
Website: http://www.huroncapital.com/