Two acquisitions accelerate Exigent’s service and geographic expansion in the Southeast
DETROIT, March 22, 2023–(BUSINESS WIRE)–Huron Capital (“Huron”), a leading lower-middle market private equity firm, announced today that its portfolio company Exigent Holdco LLC (“Exigent” or the ” Company”), a provider of mission-critical HVAC, plumbing and other mechanical system repair, maintenance and replacement services, has acquired JPG Plumbing & Mechanical Services Inc. (“JPG”) and ThermaServe Inc. (“ThermaServe”).
“Our latest partnerships with JPG and ThermaServe allow Exigent to better serve its customer base with further scale in the Washington, DC, Maryland and Virginia area, new locations in the Southeast and additional service capabilities across the platform,” said Huron Partner, Scott Hauncher . “Targeting high-reward opportunities in relevant markets for our ongoing operations is a hallmark of our ExecFactor platform plan and will support Exigent’s scale and growth.”
JPG is a unionized plumbing and mechanical services company based in Jessup, Maryland serving commercial, industrial, state and municipal customers in the Washington, DC, Maryland and Virginia area (“DMV”) plumbing, mechanical, HVAC and industrial offers vacuum services. ). ThermaServe is a union mechanical services company based in Jacksonville, Florida focused on the repair, retrofit and maintenance of chillers and other HVAC systems for customers in North Florida and South Georgia.
“The Huron team understands the value creation strategies that accelerate growth and we are excited to be working with the JPG and ThermaServe teams to continue our journey to becoming a leader in the HVAC, plumbing and mechanical services industries,” said Peter van Niekerk , CEO of Exigent. “Strategically speaking, these acquisitions will add additional services to our capabilities in existing operations, including the DMV area, and leverage our collective capacity in new markets, including Florida and Georgia. We look forward to building on the legacy that the leadership of JPG and ThermaServe teams have built.”
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Honigman LLP acted as legal counsel and Moss Adams LLP as financial diligence adviser to Huron and Exigent.
About Huron Capital
Huron Capital brings a people-centric and thematic approach to private equity investing in long-term relevant and fragmented sectors of North America’s service industry. We pride ourselves on our unwavering commitment to openness, trust, accountability and transparency in our relationships with management teams, investors, advisors and employees.
Founded in Detroit in 1999, we work with entrepreneurs and management teams to help their businesses reach new levels of excellence. We provide resources to help companies grow by professionalizing operations, improving service offerings, executing M&A strategies and entering new markets.
Huron Capital has managed over $1.8 billion on behalf of a global institutional investor base. We deliver on our commitment to all stakeholders by using a repeatable playbook to drive thoughtful value creation demonstrated in over 260 acquisitions since the company’s inception.
About Exigent
Based in Reston, Virginia, Exigent was created in 2022 by Huron Capital as an ExecFactor initiative focused on providing critical repair, maintenance and replacement services for HVAC, plumbing and other mechanical systems for complex healthcare facility operations , education, industry, government and others concentrate other commercial customers.
About ExecFactor
ExecFactor is Huron Capital’s proprietary, thematic investment strategy where we underwrite an industry and work with an executive to execute our build-and-build investment model. This strategy brings together our industry focus, deep industry relationships, committed capital and a repeatable buy-and-build approach to create a new platform investment.
Notable ExecFactor initiatives include ExperiGreen, a leading provider of residential lawn care services; Sciens Building Solutions, a leading full-service commercial fire protection and life safety company; Pueblo Mechanical & Controls, a leading HVAC and plumbing services company; and Highstreet Insurance Partners, a full-service insurance brokerage platform.
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