DETROIT, Jan. 4 /PRNewswire/ -- Huron Capital announced today that it has sold its interest in Pristech Products, Inc. (“Pristech”) in a late December transaction that produced a 32.3% IRR. Based in San Antonio, Texas, Pristech is a specialty medical instrument and consumer products manufacturer of exothermic temporary heat sources and catheters. Its products are sold into the specialty medical instruments markets and certain consumer product markets.
In 2003, Huron partnered with Pristech management to capitalize the Company and fund the spin-off of a non-core division of a former Huron portfolio company. We worked with management to create a stand-alone infrastructure and execute expansion plans for the Company’s product lines and channels of distribution during our hold period. Commenting on the transaction, Michael R. Beauregard, a Partner at Huron Capital, stated, “In Pristech, we saw a well-positioned contract manufacturer with technical expertise and know-how capable of being leveraged across several markets. We are grateful for the dedication of Pristech’s team in generating this strong return and expect the business to have continued success under their leadership.”
Huron Capital Partners LLC
Huron Capital is a leading private equity firm investing in lower middle- market companies. The firm typically invests between $5 million and $20 million in equity to sponsor management buyouts, recapitalizations, and corporate spin-offs of well-positioned companies having revenues up to $200 million. Through its operational approach, Huron’s strategy is to partner with strong management teams at niche manufacturing, specialty service, and value- added distribution companies that can be built through acquisition and organic growth.
Huron Capital manages over $250 million through two private equity funds, The Huron Fund, L.P. ($72 million, 2000) and The Huron Fund II, L.P. ($185 million, 2005). Since its founding in 2000, Huron has acquired or invested in 24 companies and has generated a realized IRR exceeding 65% for its Limited Partners. Huron has committed over 52% of its latest fund and is aggressively seeking new investment opportunities.
For further information, please visit Huron’s website at www.huroncapital.com.
Huron Capital Partners LLC
CONTACT: Michael R. Beauregard of Huron Capital Partners LLC,+1-313-962-5802, mbeauregard@huroncapital.com
Web site: http://www.huroncapital.com/
