|By PR Newswire||
|December 11, 2012 03:07 PM EST||
DETROIT, Dec. 11, 2012 /PRNewswire/ -- Huron Capital Partners LLC ("Huron") announced today that its portfolio company, Hughes Associates, Inc. ("Hughes"), has acquired Anoba Consulting Services LLC ("Anoba"). Anoba is a niche engineering firm specializing in probabilistic risk assessment ("PRA") and other highly-technical risk-modeling services. Mandated by the federal government, PRA utilizes highly analytical software programs and risk models that allow nuclear power plants to assess the underlying operational risks in their business and the potential impact of catastrophic events.
Prior to the acquisition, Anoba had been a key strategic partner for Hughes, often serving as a subcontractor on its nuclear power generation consulting projects. The transaction brings Anoba and Hughes together and expands Hughes' capabilities in the rapidly growing PRA industry.
Liz Kleinsorg, Managing Director of Hughes' Power Division, noted, "We are thrilled to join forces with Rick Anoba and his industry leading team of PRA engineers. The acquisition extends our presence in another high-growth, niche engineering segment of the industry and provides opportunities to generate new revenue streams from new and existing customers."
Phil DiNenno, CEO of Hughes, added, "Anoba is a highly-regarded name in the PRA field and we believe it fits well into the strategic acquisition plan that we are currently pursuing in partnership with Huron Capital."
Huron originally invested in Hughes in May 2011, and was attracted to Hughes' market leading position in the fire protection engineering market and ability to serve as a platform for growth. "When we invested in Hughes, our plan was to build the business both through strategic acquisitions and internal growth. We continue to deliver on that plan with this second add-on and look forward to pursuing additional opportunities with Phil DiNenno and the rest of the Hughes management team," said Huron Partner Peter Mogk.
About Huron Capital Partners LLC
Huron Capital is an operationally-focused private equity firm with a successful track record of making lower middle-market companies bigger and better. Huron invests up to $70 million to sponsor management buyouts, buy & build strategies, corporate carve-outs, and recapitalizations of niche manufacturing, specialty service, and value-added distribution companies having revenues up to $200 million. Huron seeks opportunities where it can help companies reach their full potential by combining its operational approach, capital, and transaction experience with proven operating executives who have the vision, experience, and commitment to grow their businesses.
Founded in 1999, Huron has acquired or invested in 61 companies with aggregate revenues in excess of $1 billion. Investments have been made in the USA and Canada in a variety of areas, including document management, education, healthcare products & services, specialty chemicals, specialty packaging, consumer products & apparel, home decor, engineering services, food & beverages, office furniture components, and laboratory testing. Huron Capital has raised over $600 million in committed equity through three private equity funds, and has offices based in Detroit and Toronto. For more information, visit www.huroncapital.com.
SOURCE Huron Capital Partners LLC