Huron’s TouchPoint Print Solutions Corp. Buys CoakleyTech, LLC
DETROIT, Aug. 14 /PRNewswire/ — Huron Capital Partners LLC announced today that, through its holding company TouchPoint Print Solutions Corp. (“TouchPoint”), it has acquired CoakleyTech, LLC (“Coakley”) in partnership with Coakley’s management. The transaction closed effective July 31st. Specific terms of the transaction were not disclosed. Coakley is a leading provider of document process outsourcing, digital printing, direct mail and fulfillment services for mid-sized and Fortune 100 clients. Huron has committed over $20 million to its TouchPoint platform and is focused on building a full-service printing and document management business providing customers with solutions in web-based, sheet-feed and digital printing media. The transaction marks the 8th platform investment for The Huron Fund II L.P., and the 16th acquisition for Fund II including strategic add-on acquisitions.
Headquartered in Milwaukee, WI, Coakley offers medium and large corporate customers a wide variety of document management, digital printing, digital media replication, e-commerce, direct mail and fulfillment services. Coakley provides its clients highly customized document management solutions and has developed a scalable, proprietary IT infrastructure which allows it to offer customers greater manufacturing flexibility and quality.
Peter E. Mogk, a Partner at Huron, stated, “We began developing the TouchPoint model in the middle of 2006 and we expect to continue to execute our “Buy & Build” strategy and create an entity with multi-disciplinary print capabilities. Our market strategy is to provide customers a comprehensive array of commercial printing capabilities in the sheet-fed, web and digital print markets. Coakley represents a strong first step in developing this model and gives us a significant foothold in the fast growth digital printing and outsourced document management markets.” Chris Illman, President of Coakley, added “From the beginning, Huron’s deep understanding of the print industry was attractive to us. Huron brings a very strong team of operating executives and print industry advisors that will immediately add tremendous value to the organization. We look forward to having Coakley play an important and growing role within the TouchPoint platform.”
About Huron Capital Partners LLC
Huron Capital is a leading private equity firm investing in lower middle- market companies. The firm typically invests between $5 million and $20 million in equity to sponsor management buyouts, growth initiatives, recapitalizations, and corporate spin-offs of well-positioned companies having revenues up to $200 million. Through its operational approach, Huron’s strategy is to partner with strong management teams at niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth.
In the past 12 months, Huron has completed acquisitions in the areas of commercial printing, pre-fabricated staircases & parts, ground passenger transportation services, specialty chemicals, laboratory testing services, building products and office furniture components. Huron was also active on the divestiture front, selling four businesses for a combined IRR in excess of 80%. Huron expects to continue its strong momentum in the second half of 2007 with one additional platform and two add-on acquisitions in the third quarter.
Huron Capital manages $257 million through two private equity funds, The Huron Fund, L.P. ($72 million, 2000) and The Huron Fund II, L.P. ($185 million, 2005). Since its founding in 1999, Huron has acquired or invested in 29 companies and has generated a realized IRR exceeding 65% for its Limited Partners. Huron has committed over 70% of its latest fund and is aggressively seeking new investment opportunities.
Source: Huron Capital Partners LLC