July 7, 2022: Huron Capital’s Pueblo Strikes 14th Add-On Acquisition
Plus, Churchill raises $700M for private capital fund, and Inflexion acquires a medical device manufacturer
Read the top headlines from Thursday, July 7, 2022 below:
Huron Capital’s Pueblo Makes 14th Add-On HVAC Acquisition
Middle-market private equity firm Huron Capital Partners said in a press release. That its HVAC and plumbing portfolio company Pueblo Mechanical & Controls has acquired ProCraft Mechanical. Pueblo was first acquired by Huron Capital in 2017, and has since struck 14 add-on acquisitions; ProCraft is the company’s eighth acquisition in the last 10 months. Huron Capital noted that it aimed to expand Pueblo via a buy-and-build strategy to expand the company’s footprint across the Sun Belt and Rocky Mountain regions.
Churchill Raises $700M for Flagship Private Capital Fund
Churchill Asset Management, an affiliate of asset manager Nuveen that provides financing for middle-market private equity firms, has raised $700 million to close its first collateralized fund obligation (CFO). Churchill plans to use the funding to invest in its flagship private capital fund strategies, across private equity, senior lending, junior capital, and equity co-investment commitments.
In a statement, Churchill head of investor relations Christopher Freeze said, “We are pleased to build upon Churchill’s leading U.S. middle-market private capital platform with the successful closing of our inaugural CFO,” adding that the fundraise connects investors to “a unique opportunity to access to full array of Churchill’s private capital investment capabilities.”
Inflexion Acquires Medical Device Manufacturer SteriPack
U.K.-based middle-market private equity firm Inflexion Private Equity Partners has led an acquisition of medical device manufacturing business SteriPack Group, according to a recent press release. The buyout positions SteriPack for expansion via global growth and acquisitions across Europe, Asia and the U.S. In a statement, SteriPack CEO Andrew McLean pointed to Inflexion’s presence across those geographic markets, as well as its “extensive M&A experience,” as key factors that make the firm an ideal partner for the business.
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