Huron Capital has partnered with San Francisco-based Salt Creek Capital to jointly invest in Pacific Shoring, a manufacturer of underground and trench shoring assemblies and safety equipment.
Santa Rosa, California-based Pacific Shoring was founded in 2005 by retiring CEO Bob Pitts, a veteran in the shoring industry, to provide aluminum trench safety equipment to the rental equipment industry. Pacific Shoring engineers and manufactures hydraulic aluminum shoring equipment designed to support trench walls during excavation and construction.
The company is thought to be well-positioned to capitalize on regulatory and cost-savings-driven demand for trench safety equipment that protects the lives of construction workers and continues to gain market share because of growing demand for its aluminum equipment.
"We are thrilled to collaborate with Huron Capital to offer strategic and operational resources in support of Pacific Shoring's continued growth to the benefit of our customers and employees," Salt Creek Executive Partner Bruce Russell said in a statement. "Together, we believe we will be able to build on the company's strong market presence and ability to quickly fulfill customer orders to help the company grow."
Russell, who has over 25 years of experience in manufacturing, leadership and the construction equipment industry will serve as CEO. Previously, Russell served as the CEO of a private equity-backed portfolio company. Pacific Shoring Vice President Maria Novoa will remain in her current role overseeing sales, finance, and administrative functions.
Huron Flex Equity has now completed non-control equity investments in four companies and continues to evaluate additional opportunities to help business owners accomplish a variety of growth and liquidity goals.
"Pacific Shoring is an exciting investment for us because the company makes products that protect construction workers and, at times, can even save lives," said Doug Sutton, Huron Capital partner and head of Huron Flex Equity, in a statement. "We look forward to exploring additional product categories and acquisitions as we work with Bruce and the talented, experienced team at Salt Creek."
