Huron Capital's Sciens Building Solutions Completes Central Florida Acquisition
Acquisition of SmartWatch deepens Sciens' integrated offerings
and customer relationships in Florida
DETROIT, Oct. 14, 2019 /PRNewswire/ -- Huron Capital today announced its fire detection and integrated solutions ExecFactor® platform, Sciens Building Solutions ("Sciens"), has acquired Mount Dora, Florida-based fire, security and sound firm SmartWatch Security & Sound LLC ("SmartWatch").
This transaction represents the most recent acquisition completed by Sciens since Huron Capital formed the company in 2016 to pursue a buy-and-build investment strategy in the fire detection and integrated solutions sector. The acquisition will further increase the company's presence in Florida, providing Sciens with beneficial expertise and resources in access control, video surveillance and sound, while expanding product offerings across new and existing customers.
"Sciens' strong market experience and operational expertise combined with our capabilities and relationships are expected to enhance our ability to serve our loyal customers and new clients," said Madelaine Lock, President of SmartWatch. "We are already recognized as a provider of choice by our existing customer base, and we are excited to leverage this position, as well as Sciens' institutional knowledge and capabilities to pursue continued market penetration and growth together."
Founded in 2000, SmartWatch designs, installs, services and monitors enterprise access control systems, video surveillance solutions, fire alarm systems, emergency responder systems and comprehensive sound systems. The company primarily serves the Orlando and Central Florida markets and employs a staff of over 40 highly qualified, experienced employees, most of whom are supporting customers in the field. The company provides support to customers in key vertical markets, such as hospitality, theme parks, corporate campuses, healthcare, higher education and government.
"We are delighted to welcome SmartWatch to the Sciens family and to continue working alongside their leadership team and talented employees," said Terry Heath, Sciens CEO. "SmartWatch brings added capabilities to the Sciens platform, which we plan to leverage across all of our locations, allowing us to provide more options to our existing and new customers as we continue on our fun, growth journey."
"We expect to enhance our leadership position and business development efforts in Florida," said Huron Capital Vice President Danielle Lalli. "The acquisition of SmartWatch highlights our continued pursuit of strategic partnerships that align with Sciens' values and service offerings as we further establish the business as a prominent leader within the fire detection and integrated solutions sector."
About Huron Capital
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® and buy-and-build investment models. We prefer complex situations where we believe we can help companies reach their full potential by combining our operational and strategic resources, substantial capital base, and transaction experience with seasoned operating executives. Over the past two decades, Huron Capital has successfully established six investment funds totaling approximately $1.8 billion in capital and has completed over 175 transactions throughout North America. Huron Capital portfolio companies have had aggregate annual revenues exceeding $3.0 billion, 15,000 employees and operated over 325 facilities. Huron Capital targets both control and non-control equity stakes in fundamentally sound companies that the firm believes can benefit from its operational approach to creating value. These transactions typically take the form of equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital's sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit: www.huroncapital.com.
About Sciens Building Solutions
Headquartered in San Francisco, California, Sciens Building Solutions is a holding company focused on the fire detection and security services sector. This includes the design, installation, and provision of maintenance services for fire detection and clean agent fire suppression systems in a variety of commercial, institutional, and government facilities. For more information, please visit: www.sciensbuildingsolutions.com.
Founded in 2000 by Madelaine Lock, SmartWatch is a leading security, fire alarm & sound integrator serving Orlando and the Central Florida and is one of the region's largest women-owned businesses. Every system installed by SmartWatch is custom configured and built to address specific needs by incorporating a variety of quality components, features & design aspects. For more information, please visit: http://www.smartwatchcentral.com.
Brent Snavely, Director
Lambert & Co.
SOURCE Huron Capital
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About Davis Mergers & Acquisitions Group
Dave Sylvester of Davis Mergers and Acquisitions Group (DMAG) represented SmartWatch in this transaction. DMAG is a full-service team that works in the Security and Integration industries. For further information, visit: www.graybeardsrus.com.