DALLAS, TX – May 22, 2014 –SunTx Capital Partners (“SunTx” or the “Firm”), a Dallas, TX based private equity firm that invests in middle market manufacturing, distribution and service companies primarily in the Sun Belt, today announced that its investment in Huron, Inc. (the “Company”) has been recognized as the “Small Market Deal of the Year” by Reuters Buyouts, a leading online and print news outlet covering the private equity industry.
“The success that Huron achieved is a sterling example of what can be accomplished when experienced investors, combined with motivated and disciplined management, make a financial and operational commitment to the well‐being of a “Made in America”company, executing on a strategic plan that benefits the Company, the communities that it serves and the Firm’s LPs,” said Ned N. Fleming, III, Founder and Managing Partner of SunTx.
As a direct result of SunTx’s stewardship during its investment, Huron’s revenues nearly doubled from 2009 to 2013, with EBITDA increasing during such period by approximately 3X from the low of 2009 to the time of SunTx’s exit in February 2013. SunTx’s investment in Huron is a testament to the Firm’s commitment to identifying lower-middle market companies and patiently working with management to improve finances and operations, resulting in a better business for stakeholders, while creating significant value for investors.
Mr. Fleming continued, “The economic downturn was not kind to many of Huron’s peers, yet Huron grew stronger as many of its peers succumbed. With great strategic foresight, financial and operational acumen, SunTx worked collaboratively with Huron’s management team and its various constituencies, including local unions, customers, lenders and suppliers, to navigate the most challenging local economic landscape that the American auto industry had ever faced.”
At the time of SunTx’s exit, Bob Bales, President of Huron, noted “Huron is clearly an industry survivor and is well‐positioned to continue growing the business. We sincerely thank NedFleming and the SunTx team for their support, particularly during the automotive industry’smost challenging economic times. SunTx has been an excellent partner; they encouraged us tothink broadly and creatively, and helped us strategically position the Company. Their inputcomplemented our operational acumen.”
On the transaction, Haynes and Boone served as lead legal counsel to SunTx, with Donnelly Penman serving as financial advisor.
About SunTx Capital Partners
SunTx Capital Partners, LP, is a Dallas-based private equity firm that invests in middle market manufacturing, distribution and service companies. SunTx specializes in supporting talented management teams in industries where SunTx can apply is operational experience and financial expertise to build leading middle-market companies with operations typically in the Sun Belt region of the United States. SunTx was founded in 2001 and currently has over $600 million of assets under management. The capital committed by SunTx comes from the principals of SunTx as well as from institutional investors, including leading university endowments and corporate and public pension funds. More information about SunTx can be found at www.suntx.com.