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Houston private equity firm CapStreet recaps Texas engineering group

11 Feb 2013

texas_170sqHouston-based private equity firm CapStreet Group has completed a majority recapitalisation of T.F. Hudgins in partnership with the engineering group’s senior management.

T.F. Hudgins provides highly engineered products and services primarily to process industries and third-party manufacturers. Its base operations are in Houston and New Orleans and it also has sales and distribution subsidiaries in Venezuela and Australia.

“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,” said Ted Edwards, president and chief executive of T.F. Hudgins,

CapStreet’s partner Mike Young said it will look to develop the business organically as well as through acquisitions.

CapStreet focuses on investing in lower middle market, privately-held businesses located in Texas and other Sunbelt states. The company has so far raised around $700m of private equity, completed more than 34 portfolio company investments and assisted these businesses in more than 250 bolt-on acquisitions.

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