DETROIT, Dec. 15, 2021 /PRNewswire/ -- Leading
middle-market private equity firm, Huron Capital ("Huron"), announced that it has sold a majority
interest in Sciens Building Solutions ("Sciens"), a prominent
full-service commercial fire and life safety company, to funds
managed by global investment firm Carlyle (NASDAQ: CG).
The Company's senior management team, as well as Huron, will retain minority equity stakes in
the business and Huron will
maintain a seat on Sciens' board of directors.
Headquartered in San Francisco,
Sciens is focused on the fire detection and security services
sector, including the design, installation, and provision of
maintenance services for fire detection and protection systems in a
variety of commercial, institutional, and government
facilities.
Recognizing notable secular tailwinds including increasingly
stringent regulatory requirements, the growing importance of
"smart" buildings and systems, and demographic shifts tied to
urbanization, Huron, under its
proprietary ExecFactor® program, partnered with industry executive,
Terry Heath to form Sciens in 2016
to pursue a buy-and-build investment strategy in the fire and life
safety ("FLS") space.
Over the past several years, Sciens made significant investments
in people, technology, and corporate infrastructure, including the
development of a strategic M&A program. Since its formation,
Sciens experienced strong organic growth and completed 13
acquisitions becoming a premier, scaled national provider of
mission critical FLS services. These efforts resulted in a
greater than 35-fold increase in revenue and EBITDA transforming
Sciens from a business vision into a diversified, market-leading
FLS platform poised to continue its impressive growth trajectory
under Carlyle's ownership.
Terry Heath, Founder and CEO of
Sciens said, "We have a clear focus to become the largest
independent FLS integrator in North
America by building a scalable platform with a world-class
management team. As a result of the investments we made, we grew
rapidly and successfully integrated numerous acquisitions. We are
extremely grateful for Huron's
partnership, and I am pleased that Jim and I will be able to
continue our work together as board members under Carlyle's
ownership."
Sciens has been led by Managing Partner Jim Mahoney at
Huron. "We have been extremely
proud to support Terry and the senior management team over the last
five years. Looking forward, we know that Sciens is poised for
continued growth through M&A and would benefit from a larger
partner with deep industry experience, and there is no one better
to do this than the Carlyle team."
The sale of Sciens is Huron Capital's eighth exit this year.
Baird served as financial advisor and Honigman LLP served as
legal advisor to Huron and
Sciens.
About Huron Capital
Founded in Detroit in 1999, Huron Capital ("Huron") is an operationally focused private
equity firm with a long history of growing middle-market companies
through its proprietary ExecFactor® buy-and-build investment model.
Huron prefers complex situations
where it can help companies reach their full potential by combining
its operational approach, substantial capital base, and transaction
experience with seasoned operating executives. An early pioneer of
the buy-and-build approach, Huron
has successfully established six private equity funds aggregating
nearly $2.0 billion in committed
capital and invested in over 235 companies, and its portfolio
companies have employed over 11,000 people throughout North America. The Huron buy-and-build investment model includes
equity recapitalizations, family succession transactions,
market-entry strategies, corporate carve-outs, and management
buyouts of companies having revenues up to $200 million. Huron invests control equity in fundamentally
sound companies that can benefit from the firm's operational
approach to creating value. Huron
focuses on niche segments within the commercial & industrial
services, professional services and consumer services sectors. For
more information, please visit: www.huroncapital.com.
About Sciens Building Solutions
Headquartered in
San Francisco, California, Sciens
Building Solutions is a company focused on the fire detection and
security services sector. This includes the design, installation,
and provision of maintenance services for fire detection and clean
agent fire suppression systems in a variety of commercial,
institutional, and government facilities. The Company's daily
mission is simple: save lives and protect property. For more
information, please
visit: www.sciensbuildingsolutions.com.
Certain information herein may contain forward-looking
statements which are provided to assist the reader in understanding
the beliefs and opinions with respect to future opportunities as
perceived by Huron Capital and others quoted herein. These
statements are not guarantees of future performance and undue
reliance should not be placed on them. Such forward-looking
statements necessarily involve known and unknown risks and
uncertainties, which may cause actual performance in future periods
to differ materially from any projections or results expressed or
implied by such forward-looking statements. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The issuer of
these statements undertakes no obligation to update forward-looking
statements if circumstances or estimates or opinions should change
except as may be required by applicable securities laws.
Contact:
Brent Snavely,
Senior Director
Lambert & Co.
(313) 309-9516
bsnavely@lambert.com
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SOURCE Huron Capital