The CapStreet Group has recapped T.F. Hudgins Inc. Terms were not released. CapStreet is a Houston-based private equity firm. T.F. Hudgins provides highly engineered products and services primarily to process industries and third-party manufacturers.
The CapStreet Group, LLC (capstreet.com) today reported the completion of a majority recapitalization of T.F. Hudgins, Inc. (tfhudgins.com) in partnership with T.F. Hudgins senior management. CapStreet is a Houston-based private equity firm that focuses on growing Sunbelt-region lower-middle market companies.
Founded in 1947, T.F. Hudgins provides highly engineered products and services primarily to process industries and third-party manufacturers. For example, the company sources, builds and sells critical components used in gas compressors, centrifugal pumps and other machinery used at refining, petrochemical and gas processing facilities. In addition, T.F. Hudgins offers centrifugal filtration devices designed to increase the efficiency and longevity of heavy-duty diesel engines utilized in harsh operating environments, including trucking, mining, and enhanced oil and gas recovery technologies such as hydraulic fracturing.
T.F. Hudgins currently has just over 100 employees working in locations throughout the USA with base operations in Houston and New Orleans as well as sales and distribution subsidiaries in Venezuela and Australia.
According to T.F. Hudgins President and CEO Ted Edwards, “We are proud of our history of service, profitability, and industry leadership. Now is the ideal time to accelerate our growth, and we are excited to have a firm like CapStreet providing the financial resources and expertise in distribution, marketing and management to support our objectives,” he added.
“T.F. Hudgins’ business model is an excellent fit with CapStreet’s industry experience,” said Mike Young, a partner with the private equity firm. “The company and its management team bring a legacy of long-term relationships with some of the most respected customers in the industry. We are excited about this opportunity to help them build the business organically and through strategic acquisitions.”
Led by Michael Abbott and Daniel Cohen, Gardere Wynne Sewell LLP represented T.F. Hudgins in the transaction, and Vinson & Elkins LLP represented CapStreet, led by Matthew Strock and Sarah Hurt.
ABOUT THE CAPSTREET GROUP
Founded in 1990, CapStreet focuses on investing in lower middle market, privately-held businesses headquartered in Texas and other Sunbelt states. Since inception, the firm has raised approximately $700 million of private equity, completed 34 portfolio company investments and assisted these companies in completing more than 250 add-on acquisitions.