Huron Capital Partners LLC and Duchossois Capital Management (“DCM”) have acquired a majority of Systems Inc. Financial terms weren’t announced. Germantown, Wisc.-based Systems makes hydraulic, pneumatic, and mechanical loading dock leveling equipment, truck restraints, specialty dock equipment and related accessories sold under the Poweramp, DLM and McGuire brand names. DCM has been a Huron Capital LP for 17 years.
DETROIT, May 10, 2016 /PRNewswire/ — Huron Capital Partners LLC (“Huron Capital”) and Duchossois Capital Management (“DCM”) announced today that they have collectively acquired a majority ownership position in Germantown, Wisc.-based Systems Inc. (“Systems” or the “Company”) in partnership with Mike Pilgrim, CEO of Systems. DCM has been a Huron Capital limited partner for the past 17 years.
Founded in 1961, Systems is a leading manufacturer of hydraulic, pneumatic, and mechanical loading dock leveling equipment, truck restraints, specialty dock equipment and related accessories sold under the Poweramp, DLM and McGuire brand names. The Company operates out of state-of-the-art facilities in Germantown, Wisc. and Malvern, Ark., manufacturing equipment under the “Made in America” label. The business serves both end-users and nationwide dealership networks to design, engineer, manufacture, and deliver dock equipment for use in grocery, trucking, retail and general warehousing environments.
Mike Pilgrim stated, “We are excited to partner with Huron Capital and DCM. They both have demonstrated a deep knowledge of our industry, and possess years of experience working with companies in our market to professionalize their businesses and implement strategic growth plans. Our former owner, Ed McGuire, allowed us to choose who we wanted to partner with to purchase the Company and we are confident that our team has chosen well.”
The Company further stated that it has added industry veteran, Paul Reilly, and operations expert, Ken Goodson, to serve on its Board of Directors. Previously, Mr. Reilly was Founder & CEO of R-Bac Industries, Rytec, and Paul Reilly Co., as well as having served in other leadership roles at other companies. Mr. Goodson spent 29 years with Herman Miller, Inc., most recently serving as Executive Vice President of Worldwide Operations.
“As a full-service loading dock solutions provider with a broad product offering, we see Systems as being well-positioned in its niche,” said Mike Beauregard, Huron Capital Senior Partner. “We think there’s a great opportunity to build on the company’s success, infuse it with technology applications, and drive a business development engine by leveraging the collective resources of Huron Capital, DCM and Messrs. Pilgrim, Reilly and Goodson.”
About Huron Capital Partners LLC
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Founded in 1999, Huron Capital has raised over $1.1 billion in capital through four committed private equity funds and invested in over 100 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital 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 Capital targets both majority and less-than-majority equity stakes in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital’s sector focus includes business services, consumer products & services, specialty manufacturing and healthcare. For more information, please visit www.huroncapital.com.
About Duchossois Capital Management
Duchossois Capital Management is a private investment firm owned by the Duchossois family. DCM invests across various stages of a company’s development from growth stage to later stage, utilizing its unique form of capital to make investments in public and private companies and private investment funds, and to partner with funds and other families in co-investment opportunities. For more information on DCM, visit www.dcmllc.com.